Sales to China support ASML’s first-quarter earnings despite weak bookings

AMSTERDAM: ASML, the largest supplier of equipment to computer chip makers, reported weaker-than-expected new bookings in its first-quarter earnings on Wednesday, but had strong sales to China despite U.S.-led restrictions on what it can export.

Europe’s biggest tech firm kept its full-year financial forecasts unchanged, with sales in 2024 seen flat from 2023 levels of 27.6 billion euros ($29.3 billion), although it is gearing up for strong growth in 2025.

Net income in the first quarter was 1.22 billion euros, down from 2.05 billion euros in the fourth quarter of 2023 but slightly better than expected, according to LSEG data. Sales were 5.29 billion euros, down from 7.24 billion euros.