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ASML reports strong Q3, unaffected by U.S. China sanctions
CGTN
A logo at the ASML Holding NV manufacturing plant in Berlin, Germany, January 5, 2022. /CFP
A logo at the ASML Holding NV manufacturing plant in Berlin, Germany, January 5, 2022. /CFP

A logo at the ASML Holding NV manufacturing plant in Berlin, Germany, January 5, 2022. /CFP

ASML Holding NV, a key equipment supplier to computer chip manufacturers, on Wednesday reported better-than-expected third-quarter sales and profit and record new bookings, and said it does not expect a large impact from U.S. sanctions on China.

"There is uncertainty in the market due to a number of global macro-economic concerns including inflation, consumer confidence and the risk of a recession," said ASML President and CEO Peter Wennink in a statement.

Despite weakness in the end market for memory chips, "the overall demand for our systems continues to be strong. This resulted in record bookings in the third quarter of around 8.9 billion euros," he said.

ASML, Europe's largest technology company, makes lithography systems. These large machines cost up to $160 million each and are used by chipmakers such as Taiwan Semiconductor (TMSC), Samsung and Intel to create the circuitry of computer chips.

It is currently unable to keep up with demand from these companies as they seek to build new manufacturing plants, and with ASML's backlog now at more than 30 billion euros ($29.46 billion), ASML is seeking to expand its own production capacity by 2025.

ASML's third-quarter net profit was 1.7 billion euros on sales of 5.8 billion euros, beating analysts' forecasts of 1.42 billion euros in profits and 5.41 billion euros in sales.

Source(s): Reuters

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