(Bloomberg) -- ASM International NV’s orders beat estimates in the second quarter, as the Dutch chip-equipment maker continues to benefit from the artificial intelligence boom and demand from China.
Orders increased 56% from a year earlier to €755 million ($819 million), ASM said in a statement after market hours on Tuesday. That compared to an average analyst estimate of €709 million in a Bloomberg survey.
Bookings included “a solid level of tool orders related to the gate-all-around” 2-nanometer technology node, ASM Chief Executive Officer Hichem M’Saad said in the statement. M’Saad took over from former CEO Benjamin Loh in May.
ASM’s American depository receipts jumped 8.4% after the statement, the most in three months. The company’s shares have risen 48% so far this year in Amsterdam.
The Almere-based company has been balancing a softer market for wafer-fabrication equipment with rising demand for the so-called “gate-all-around” technology that boosts device performance and has become critical to AI chips.
The gate-all-around node is still projected to move into high-volume manufacturing in 2025, “and we expect this to be a strong revenue driver for ASM,” M’Saad said.
Despite citing “strong sales” in China in the quarter, the revenue from the Asian nation was lower than the first quarter of the year, the company said. ASM continues “to expect sales from China to drop in the second half compared to the exceptional level” in the first six months of the year.
ASM said its second-half revenue is expected to increase by about 15% compared to the first six months of 2024. Previously it expected growth of 10% or more.
(Updates with details throughout)
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