Semiconductor equipment giant ASML on Wednesday missed order expectations and said that uncertainty from new U.S. trade restrictions may affect demand for its critical chipmaking machines.
Here’s how ASML did versus LSEG consensus estimates for the first quarter:
- Net sales: 7.74 billion, against 7.8 billion euros expected
- Net profit: 2.36 billion, versus 2.3 billion euros expected
ASML said net bookings — a key indicator of order demand — came in at 3.94 billion euros ($4.47 billion) for the first three months of 2025. That was lower than a forecast of 4.89 billion euros from analysts. Shares of ASML were down 6% Wednesday morning.
In comments accompanying the results, ASML CEO Christophe Fouquet said that the demand outlook “remains strong” with artificial intelligence staying as a key driver. However, he added that “uncertainty with some of our customers” could take the company into the lower end of its full-year revenue guidance.
Tariff uncertainty
Fouquet said that tariffs are “creating a new uncertainty” both on a macroeconomic level and with respect to “our potential market demands.”
“So this is a dynamic I think we have to watch very carefully,” Fouquet said. “Now this being said, where we are today, we still see basically our revenue range for 2025 being between basically €30 and €35 billion.”
Ben Barringer, equity research analyst at Quilter Cheviot, said impacts from U.S. tariffs on ASML could be “widespread” but added that, at this stage, it’s too early to tell what effect they’ll have.
Read the full story by Ryan Browne / NBC