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Following Additional U.S. Sanctions and an Outlook Caution, Shares of Crucial Chip Company ASML Fall 4%

Chip manufacturing company ASML anticipated flat sales for 2024 while reporting a year-over-year increase in third-quarter profit and beating analyst expectations.

The extreme ultraviolet lithography machines that ASML, one of the most significant semiconductor companies in the world, produces are necessary to make the most cutting-edge chips anywhere in the world.

As growing geopolitical fears negated the profit increase, ASML shares were down nearly 4% just after 8 a.m. London time.

Comparing actual results to LSEG forecasts, ASML performed as follows:

Net sales: $7 billion ($6.67 billion) as opposed to the estimated $6.71 billion
Net profit: 1.89 billion euros as opposed to the anticipated 1.8 billion euros
Net revenues increased by 15.5% compared to the 5.78 billion euros reported in the same period last year. The 1.7 billion euros in net profit reported during the same period last year increased by almost 11%.

Both third-quarter statistics showed a decrease from the second-quarter values.

Source (CNBC)

SourceCNBC
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