ASML Holding NV (ADR) (NASDAQ: ASML) early Wednesday posted better than expected first quarter earnings results and offered an in-line outlook for the second quarter, as demand remains high for its semiconductor equipment.
Written by StockNews.com
The Netherlands-based chip-making equipment manufacturer reported;
Looking ahead ASML forecast:
ASML President and Chief Executive Officer Peter Wennink commented via press release:
“A positive industry environment provided a strong start to 2017 and healthy demand is expected to continue throughout the rest of the year.
Our DUV business saw strong demand from all sectors of the industry.
Our service and options business was also very strong in the first quarter, as a number of customers bought performance-enhancing upgrades for their existing immersion tools.
Our second-quarter guidance shows that we expect these trends continue.”
ASML Holding NV (ADR) shares rose $1.91 (+1.46%) in premarket trading Wednesday. Year-to-date, ASML had gained 16.44% prior to today’s report, versus a 5.08% rise in the benchmark S&P 500 index during the same period.
ASML currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #5 of 93 stocks in the Semiconductor & Wireless Chip category.
