The third-quarter orders of ASM International in the Netherlands were higher than expected
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Update time : 2024-10-30 17:13:33
On October 30th, news came that ASM International's third-quarter orders exceeded expectations, with the artificial intelligence boom driving the demand for this Dutch chip equipment manufacturer. ASM stated in a statement on Tuesday that orders grew by 30% year-on-year to €815.3 million ($881 million). The median estimate of the analysts surveyed was €768 million.
Hichem M’Saad, the CEO of ASM, said in the statement that sales of its so-called Gate-All-Around products are expected to "increase significantly" next year. After the release of the earnings report, ASM's American Depositary Receipts (ADR) rose by 7.1% at one point. On the Amsterdam market, the stock rose by 0.2% before the earnings announcement and closed at €516.60. The stock has risen by 9.9% so far this year. ASM said that it expects fourth-quarter revenues to be between €770 million and €810 million, and anticipates that orders will decline on a sequential basis. It is expected that the full-year 2024 revenues will increase by 10% year-on-year.
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