US Stock Market News | Third-quarter revenue guidance falls short of analysts' expectations, ASML drops nearly 11%

On Wednesday, ASML's stock price fell, with the stock down nearly 11% to $951.4 as of the time of writing. This marks the largest single-day decline since March 18, 2020. ASML's second-quarter earnings and sales exceeded expectations, with new order volume higher than the first quarter, but the company's third-quarter revenue guidance fell short of analysts' expectations. In the second quarter, ASML's sales were €6.24 billion, compared to €5.29 billion in the same period last year, with a market value expected to be €60.25 billion; net profit was €1.578 billion, compared to €1.224 billion in the same period last year; basic earnings per share were €4.01, compared to €3.11 in the same period last year; and the gross margin was 51.5%, higher than expected. New orders in the second quarter amounted to €5.57 billion, a year-on-year increase of over 24%, far exceeding analysts' expectations of €4.41 billion. Of this, €2.5 billion was for EUV lithography machines. ASML expects third-quarter sales to be between €6.7 billion and €7.3 billion, below analysts' expectations of €7.46 billion; the third-quarter gross margin is expected to be between 50% and 51%; and research and development costs are expected to be around €1.1 billion, with sales, general, and administrative expenses around €295 million