ASML earnings report Q1 2024

President Joe Biden’s administration plans to press the Netherlands next week to stop its top chipmaking equipment maker ASML from servicing some tools in China, two people familiar with the matter said, as the U.S. leans on allies in its bid to hobble Beijing’s tech sector.Emmanuel Dunand | AFP | Getty ImagesASML on Monday said first quarter profit beat expectations while sales missed forecasts, with the compant sticking to its full-year outlook. Here’s how ASML did versus LSEG consensus estimates:Net sales: 5.29 billion euros ($5.62 billion) versus 5.39 billion euros expected.Net profit: 1.22 billion euros versus 1.07 billion euros exepected. Net sales fell 21.6% year-on-year while net income dropped 37.4%. “Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, in line with the industry’s continued recovery from the downturn,” Peter Wennink, CEO of ASML said in a statement. “We see 2024 as a transition year with continued investments in both capacity ramp and technology, to be ready for the turn in the cycle.”This is a breaking news story. Please check back for more.

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