ASML, a manufacturer of the most advanced chip manufacturing equipment in the world, reported better-than-expected results.
ASML reported a profit that was higher than expected in the second quarter, but revenue that was slightly lower than expected. It reported net income of €1 billion ($1.2 billion), or €1.79 per share, compared to €751, or €2.52 per share, in the previous year. Revenue increased by 21% to €4 billion.
Analysts expected earnings per share of €2.47 on revenue of €4.1 billion.
The company stated that it expects third-quarter revenue of €5.2 billion to €5.4 billion, which is significantly higher than the €4.7 billion predicted by analysts. It is currently trading at 52 times expected earnings. In recent trading, ASML gained 5.4 percent to $721 while the semiconductor index SOXX was up 2.5%.