October 14, 2020 | technology | No Comments
AMSTERDAM (Reuters) – Semiconductor equipment maker ASML Holding NV ASML.AS on Wednesday posted a better-than-expected quarterly earnings and forecast a double-digit growth for next year on strong end-demand for electronics devices.
The company reported sales of 3.96 billion euros ($4.65 billion) in the third quarter ended Sept. 30, ahead of analyst estimates of 3.7 billion euros, and a net profit of 1.06 billion euros. In the third quarter of 2019, ASML reported net profit of 627 million euros and sales of 3 billion euros.
ASML Chief Financial Officer Roger Dassen forecast sales of 3.7 billion euros in the fourth quarter and said the company expected “low double digit” growth in 2021.
ASML has a near monopoly on lithography systems, enormous machines that can cost up to $200 million each and play a