ASMI raises Q2 revenue forecast, Chinese bookings stronger than expected

By Thomson Reuters Apr 23, 2024 | 11:50 AM

(Reuters) – Wafer processing equipment supplier ASM International (ASMI) on Tuesday raised its revenue forecast for the second quarter of the year, citing stronger-than-expected Chinese demand and higher sales in advanced logic and memory.

ASMI said it now expected revenue in the quarter between 660 million euros and 700 million euros ($706 million to $749 million) at constant currencies, compared with 600-640 million euros previously.

“We still expect sales from the Chinese market in the second half to be lower, but the decrease will be more moderate than we previously anticipated,” the company said in a statement.

For the first quarter, ASMI reported 698 million euros in orders, against a 658 million euro analyst consensus forecast provided by researcher Visible Alpha.

($1 = 0.9349 euros)

(Reporting by Nathan Vifflin in Gdansk; Editing by David Goodman and Tomasz Janowski)