Shares of lithography giant ASML Holdings (NASDAQ: ASML) were down in Wednesday trading following its second-quarter earnings report, falling 5.1% as of 2:56 p.m. ET.
ASML broadly beat consensus figures while raising its full-year guidance. However, management's commentary was more subdued, and some of the guidance raise was due to an accounting change regarding its fast shipments to customers. Furthermore, the quarter's strength appeared concentrated in the China market, which may be at risk of further sanctions.
In Q2, ASML posted revenue growth of 27.8% to 6.9 billion euros ($7.3 billion) compared with expectations for 6.74 billion euros ($7.6 billion), and net-profit growth of 35% to 1.9 billion euros ($2.13 billion) compared with analyst expectations for 1.82 billion euros ($2.04 billion). Furthermore, management raised its full-year revenue-growth guidance from over 25% to around 30%.
Source Fool.com