ASML reported a 23% rise in second quarter revenue to 7.7bn (€7.5bn expected). Operating income rose 45% to €2.7bn (€2.4bn expected) with a margin of 34.6%. New orders were broadly flat at €5.5bn.
Performance was driven by upgrades to the existing installed base, one-off cost benefits, and a less severe tariff impact than expected.
Free cash flow fell 17% to 319mn and there was net cash on the balance sheet of $3.6bn.
Third quarter revenue is expected to land between €7.4-7.9bn ($8.2bn expected) and operating income around €2.4bn (€2.7bn expected).
Looking further ahead, growth in 2026 is uncertain at this stage, with management calling out “increasing uncertainty driven by macro-economic and geopolitical developments”.
An interim dividend of €1.6 was announced, payable in August, and around €1.4bn worth of shares were brought back over the period.
The shares were down 6.4% in early trading.
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ASML key facts
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