ASML net profit slumps 49% on quarter; downgrades revenue outlook

|About: ASML Holding N.V. (ASML)|By:, SA News Editor

ASML's (ASML) Q1 net profit almost halved to €249.1M ($344M) from €481M in Q4 but exceeded expectations of €230M. Profit in Q1 a year earlier was €96M.

Sales slumped 24% on quarter to €1.4B, as expected. On year, revenue rose 57% from  €892M.

ASML downgraded its H1 sales forecast due to slowing revenues in Q2, saying it expects turnover of €3B including extreme ultraviolet (EUV) systems for producing smaller chips. The company's prior guidance was €3B excluding EUV products.

"That ASML is now including EUV in its sales guidance means a difference on a yearly basis of around €500-600M, which is about 10% of sales," says ING analyst Robin van den Broek.

Shares are -3.6% in Amsterdam. (PR)

This was corrected on 04/16/2014 at 04:59 AM. One of the comparison reporting periods was misstated as being a year earlier; it was in fact the previous quarter. The item now reflects on-year and on-quarter earnings changes.