ASML Holding NV (NASDAQ: ASML) shares climbed more than 2% intra-day on Wednesday after the Dutch semiconductor equipment maker reported quarterly results and bookings above expectations but warned of a significant decline in China sales projected for 2026.
The company posted quarterly bookings of €5.4 billion, slightly ahead of analyst expectations of €5.36 billion. Net sales for the third quarter reached €7.5 billion, while gross margin stood at 51.6%, both in line with prior guidance.
Chief Financial Officer Roger Dassen described the quarter as “solid,” noting that lithography intensity continued to improve as the adoption of extreme ultraviolet (EUV) technology accelerated. He added that progress on High NA EUV development remained on track.
ASML reaffirmed its full-year 2025 outlook, forecasting approximately 15% sales growth over 2024 and a gross margin around 52%. The company projected fourth-quarter sales between €9.2 billion and €9.8 billion, with gross margins expected to range from 51% to 53%, signaling a strong year-end performance.
Despite its robust results, the firm cautioned that sales in China were likely to fall substantially in 2026 compared with elevated business levels seen in 2024 and 2025.
