ASML - 1 Reason ASML's Revenue Could Soar in 2025 and Beyond
2024-04-18 05:35:00 ET
Semiconductor equipment provider ASML (NASDAQ: ASML) is off to a rough start this year. Demand is muted, particularly for equipment that doesn't use extreme ultraviolet lithography.
ASML's revenue sank 22% year over year to 5.29 billion euros in the first quarter. Net bookings and the number of new lithography systems sold slumped, as well. For the full year, the company expects total revenue to be roughly flat, compared to 2023.
ASML stock took a mild beating on Wednesday following the disappointing earnings report, with shares down about 7.4% at noon ET. While 2024 will be a year to forget for the semiconductor equipment giant, one key development should drive the company's revenue much higher over the next few years.
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1 Reason ASML's Revenue Could Soar in 2025 and Beyond