By Adria Calatayud
ASML Holding NV (ASML.AE) said Wednesday that net profit fell 18% in the second quarter, but gross margin exceeded expectations, and that it anticipates continued weakness in the memory-chip segment for the rest of the year.
Net profit for the quarter was 476 million euros ($534.6 million) compared with EUR584 million in the same period of 2018, the Dutch maker of semiconductor equipment said. Analysts expected a net profit of EUR395.4 million, according to a consensus based on nine analysts' estimates and provided by FactSet.
Quarterly net sales declined to EUR2.57 billion from EUR2.74 billion in the year-earlier period, ASML said. This was in line with a FactSet-provided consensus bases on estimates by 21 analysts.
Gross margin for the second quarter was 43.0%, ahead of ASML's guidance of between 41% and 42%, the company said.
For the quarter ahead, ASML said it anticipates net sales of around EUR3.0 billion and a gross margin of between 43% and 44%. Analysts polled by FactSet had forecast ASML's third quarter net sales at EUR3.23 billion, according to a consensus based on estimates by 20 analysts.
"For the remainder of the year we see further weakness in memory, while logic looks stronger. We expect that the increased demand in logic will compensate for the decreased demand in memory," ASML President and Chief Executive Peter Wennink said.
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