July 17 (Reuters) - ASML , the largest equipment supplier to computer chip makers, reported better-than-expected second-quarter earnings on Wednesday but its 3Q forecasts are below estimates.
The group also expects a 3Q gross margin between 50% and 51%, with the midpoint 61 basis points below consensus of 51.1%, the analysts say. ASML shares trade 5% lower at EUR929.10.
Shares of ASML slide 4.5% in overnight trading.
ASML reported second-quarter net income of 1.6 billion euros on revenues of 6.2 billion euros. Analysts had expected 1.41 billion euros on revenue of 6.04 billion euros, according to LSEG data.
The company's new CEO Christophe Fouquet said in a statement that the company continues to view 2024 as a "transition year" in which its performance will be about flat as it prepares for a strong 2025.
"We currently see strong developments in AI, driving most of the industry recovery and growth, ahead of other market segments," he said in a statement.
ASML's closely watched new bookings increased to 5.6 billion euros ($6.11 billion) from 3.6 billion euros in the first quarter of 2024, with about half of that coming from the company's most advanced EUV product lines -- vital in the manufacture of AI chips and smartphones.
Analysts had expected the company's order book to increase by about 5 billion euros, according to estimates compiled by Visible Alpha.
The second-quarter numbers were lower than in the same period a year earlier, when net income was 1.94 billion euros and sales were 6.90 billion euros.
($1 = 0.9171 euros)
