Chipmaker ASML shares fell 15% after a technical glitch missed preliminary Q3 earnings estimates

16 October 2024

Computer chip equipment maker ASML reported weaker bookings on Tuesday and cut its 2025 sales forecast in third-quarter earnings initially published on its website, sending its shares down 15% by 1500 GMT.

“We expect our 2025 total net sales to grow to a range between 30-35 billion euros, which is the lower half of the range we provided at our 2022 investor day,” Chief Executive Christophe Fouquet said in a statement.

The company’s earnings showed a net profit of 2.1 billion euros on sales of 7.5 billion euros, slightly ahead of analysts’ estimates.

However, the company’s bookings came in at 2.6 billion euros, well below estimates of between 4 billion euros and 6 billion euros.

ASML said that while demand for AI-related chips was strong, other market segments were “taking longer to recover.”

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