2023-04-20 09:04:00 ET
ASML (NASDAQ: ASML) posted its first-quarter earnings report on April 19. The Dutch semiconductor equipment maker's net sales surged 91% year over year to 6.75 billion euros ($7.4 billion), which exceeded analysts' estimates by 360 million euros. Its net income jumped 181% to 1.96 billion euros ($2.15 billion), or 4.96 euros ($5.44) per share, which also easily cleared the consensus forecast by 0.80 euros per share.
Those growth rates were amplified by an easy comparison to its 19% revenue decline and 48% drop in net income a year earlier, which had largely been caused by the post-pandemic slowdown of the PC market, sluggish sales of smartphones, and other headwinds for chipmakers. So is it the right time to buy ASML and bet on its cyclical comeback?
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Is ASML Stock a Buy Now?