ASML Raises Full-Year Sales Forecast as Profit Beats Expectations, But Q3 Revenue Miss Weighs on Shares

ASML Holding NV (ASML) reported third-quarter net revenue of 11.66 billion euros ($13.07 billion), up 55% from a year earlier but slightly below analyst projections of $13.12 billion. Despite the revenue miss, net profit jumped to 4.96 billion euros, with earnings per share reaching 12.93 euros ($14.51), surpassing expectations of $12.05. The Dutch semiconductor equipment manufacturer also raised its full-year sales forecast for a third time, now anticipating 44 billion to 45 billion euros ($49.27 billion to $50.39 billion), while expecting gross margins of around 56%.

Although the company's long-term growth outlook remains strong, the quarterly revenue shortfall created brief pressure on semiconductor stocks. Shares of ASML Holding NV fell 4.20% to 1,510 euros, while U.S. chipmakers Micron Technology (MU), SanDisk (SNDK), and Intel Corporation (INTC) slipped between 1% and 2.6%. Investors have pushed ASML shares up 61% year to date, driven by aggressive capital spending across the technology sector on artificial intelligence infrastructure.

Chief Executive Officer Christophe Fouquet stated that customer demand for equipment remains strong through the decade, driven by artificial intelligence investments, with some clients discussing delivery orders for 2029 and 2030. Because supply planned for 2027 and 2028 is expected to fall short of customer orders, the company is looking into expanding its 2028 manufacturing capacity beyond its current 30% expansion target.