Trending: ASML Delivers Solid 2Q in Challenging Market

0945 GMT - ASML is among the most mentioned companies across news items over the past four hours, according to Factiva data. The Dutch manufacturer of lithography systems for the semiconductor industry said Wednesday that second-quarter net income slipped slightly on quarter, though net sales and gross margin--a good beat to market expectations, reflecting higher deep ultraviolet shipments, ING analyst Marc Hesselink says in a research note. The company also hiked its outlook, saying it expects strong growth for 2023, with a net sales increase toward 30% on-year. It had previously guided for 2023 net sales to grow by more than 25% from 2022. "We expect consensus 2023 revenue and EBIT to move up by a low-to-mid single digit percentage," Hesselink says. While customers across different market segments expect a later recovery of their markets because of greater macro-economic uncertainty, this is a reassuring set of results overall given market caution on multiple areas, especially second quarter orders, Jefferies says. "We continue to expect steadily improving sentiment in the industry through the second half, leading to a stronger 2024," Jefferies analysts say in a research note. Dow Jones & Co. owns Factiva. ([e-mail])

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July 19, 2023 06:00 ET (10:00 GMT)

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