ASML managed to achieve substantial revenue growth in the third quarter of 2022. Its revenue of €5.8 billion exceeded analyst expectations. The chip machine manufacturer expects even higher sales figures in the fourth quarter of 2022.
The positive quarterly results are a bright spot in the downbeat tech market of the past few months. ASML’s €5.8 billion revenue exceeded the expected revenue of €5.1 billion to €5.4 billion. Quarterly profit totalled €1.7 billion.
No problems due to economic conditions
The chip machine manufacturer says it managed to avoid problems related to macroeconomic developments in the latest quarter. Although ASML sees demand fluctuate in certain markets, demand for production machines remains high worldwide. A record number of orders were placed last quarter. As a result, the order book totalled €8.9 billion in value by the end of the third quarter.
Fourth quarter and 2022 expectations
ASML expects sales to continue to increase in the coming quarter. The manufacturer forecasts between €6.1 billion and €6.6 billion in revenue. In addition, the company doesn’t expect recent US restrictions concerning Chinese customers to significantly affect sales. The company projected total sales of €21 billion for 2022.