ASML reports better third-quarter sales, China growth to continue despite U.S.

FILE PHOTO: ASML Holding logo is seen at company’s headquarters in Eindhoven, Netherlands, Januari 23, 2019. REUTERS/Eva Plevier

AMSTERDAM (Reuters) – ASML Holding NVASML.AS, the semiconductor equipment maker, reported on Wednesday better than expected earnings for the third quarter, saying it saw double digit growth in 2021.

The company reported sales of 3.96 billion euros, ahead of analyst estimates of 3.7 billion euros, and net profit of 1.06 billion euros.

ASML CFO Roger Dassen forecast sales of 3.7 billion euros in the fourth quarter and said the company expected “low double digit” growth in 2021. U.S. trade curbs on sales to some Chinese companies will mean ASML must apply for a license to sell older-generation equipment to those companies.

Still, he raised his forecast for sales to China this year from around 1 billion euros to “a little over a billion” in 2020.

In the third quarter of 2019, ASML reported net profit of 627 million euros on sales of 3.0 billion euros.

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