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2023-01-25 06:22:36

ASML beats earnings forecasts, sees 2023 growth amid China worries

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Channel NewsAsia
By Cna

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VELDHOVEN, Netherlands :ASML Holding NV, Europe's largest technology company, beat fourth-quarter earnings forecasts on Wednesday and forecast a rise more than 25 per cent in 2023 sales despite possible new curbs on its exports to China.

The maker of equipment to produce semiconductors has struggled to meet demand as top customers TSMC, Samsung and Intel are all engaged in major expansions.

It said its order backlog had grown to a record 40 billion euros ($43.62 billion) at the end of the year.

Credit Suisse analysts said the earnings may be "taken negatively" by the market, given recent rallies in the company's share price, up 22 per cent in January and up 55 per cent from October lows.

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