ASML Lifts Sales Forecast as AI Demand Extends Into Future Years
(MENAFN) Dutch semiconductor equipment manufacturer ASML has increased the lower end of its annual revenue outlook, citing growing demand for artificial intelligence technology and rising customer interest in equipment orders extending into 2029 and 2030, according to reports released Wednesday.
The company posted a third-quarter net profit of €4.96 billion ($5.55 billion), surpassing analysts' expectations. Revenue reached €11.66 billion, coming in slightly below market forecasts.
ASML now anticipates full-year net sales of between €44 billion and €45 billion, compared with its earlier projection of €43 billion to €45 billion. For the fourth quarter, the company expects revenue to range from €14.2 billion to €15.2 billion.
Chief Executive Officer Christophe Fouquet said customers were continuing to increase their projections for near- and medium-term equipment requirements, largely because of expectations surrounding the scale and longevity of investment in artificial intelligence.
He also noted that some customers were already considering orders for 2029 and 2030, signaling that demand for semiconductor manufacturing equipment could remain strong well beyond the immediate outlook period.
Fouquet added that ASML's planned production capacity for 2027 and 2028 would fall short of anticipated customer requirements. The company is therefore exploring options to increase its capacity for 2028 beyond the previously planned expansion of 30%.
The company posted a third-quarter net profit of €4.96 billion ($5.55 billion), surpassing analysts' expectations. Revenue reached €11.66 billion, coming in slightly below market forecasts.
ASML now anticipates full-year net sales of between €44 billion and €45 billion, compared with its earlier projection of €43 billion to €45 billion. For the fourth quarter, the company expects revenue to range from €14.2 billion to €15.2 billion.
Chief Executive Officer Christophe Fouquet said customers were continuing to increase their projections for near- and medium-term equipment requirements, largely because of expectations surrounding the scale and longevity of investment in artificial intelligence.
He also noted that some customers were already considering orders for 2029 and 2030, signaling that demand for semiconductor manufacturing equipment could remain strong well beyond the immediate outlook period.
Fouquet added that ASML's planned production capacity for 2027 and 2028 would fall short of anticipated customer requirements. The company is therefore exploring options to increase its capacity for 2028 beyond the previously planned expansion of 30%.
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