ASML - Why ASML Stock Is Soaring and Hit a New Record High This Week
2024-01-26 09:12:07 ET
ASML (NASDAQ: ASML) stock is making big gains in this week's trading thanks to strong fourth-quarter results and encouraging guidance. The Dutch semiconductor equipment specialist's share price was up 14.7% from last week's market close heading into this Friday's trading, according to data from S&P Global Market Intelligence .
ASML published its Q4 results on Jan. 24, posting sales and earnings for the period that came in significantly ahead of the market's expectations. The company reported net income of 2 billion euros on revenue of 7.2 billion euros, beating the average analyst estimate's call for a profit of 1.87 billion euros and 6.9 billion euros in sales. The strong performance pushed the company's share price to a new record high in subsequent trading.
ASML's net income rose 9% year over year, and its sales climbed 12.5% in the period. Notably, the company recorded 9.19 billion euros in net bookings in Q4 -- up 253.5% on a sequential quarterly basis and 45.4% year over year. On the other hand, full-year bookings of roughly 20 billion euros were still down roughly 34.7% compared to bookings in 2022.
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Why ASML Stock Is Soaring and Hit a New Record High This Week