AMSTERDAM (Reuters) -Computer chip equipment maker ASML on Tuesday reported weak bookings and cut 2025 sales forecasts in third quarter earnings published early on its website, sending its shares down 15% by 1500 GMT.
“We expect our 2025 total net sales to grow to a range between 30-35 billion euros, which is the lower half of the range that we provided at our 2022 Investor Day,” Chief Executive Christophe Fouquet said in a statement.
The company’s earnings showed net profit of 2.1 billion euros on sales of 7.5 billion euros, slightly ahead of analyst estimates.
However, the company’s bookings came in at 2.6 billion euros, well below forecasts that had ranged between 4 billion euros and 6 billion euros.
ASML said that while demand for AI-related chips were strong, other market segments were taking “taking longer to recover.”
“This is expected to continue in 2025, which is leading to customer cautiousness.”
A spokesperson for the company said it is working on a full explanation of the results and early publication.
($1 = 0.9172 euros)
(Reporting by Toby SterlingEditing by Tomasz Janowski)
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