What caused ASML's revenue drop in Q1 2024?
3/30/2025 02:30pm
ASML's revenue drop in Q1 2024 was caused by a "soft market for wafer fabrication equipment" and a "uneven recovery in global demand for semiconductors".
The company's revenue for the first quarter was expected to total €600 million ($651 million) to €640 million, which fell short of the €643 million that analysts had estimated. This indicated a challenging market conditions for ASM International NV, despite a record-high revenue in the previous quarter.
The downturn in demand was primarily attributed to "softer conditions" in the market for wafer fabrication equipment, which had a significant impact on ASM's earnings in the last quarter of 2023 and was expected to continue into early 2024. However, the company anticipated that second-half revenue would be higher than the first half, although specific guidance for the second half or the full year could not be provided.