ASML’s revenue increased in the third quarter to 11.66 billion EUR (+55.2% y/y), and net profit reached 4.96 billion EUR (+133.5% y/y).

Quarterly results#

Gross margin was 57.5% (5.9 pp y/y), and operating profit reached 5.17 billion EUR (+109.6% y/y). Earnings per share (reported) was 12.93 EUR (+135.9% y/y), while earnings per share (reported, basic) was 12.95 EUR (+135.9% y/y).

Company guidance#

The company expects fourth quarter revenue in the range of 14.20 billion EUR – 15.20 billion EUR with a gross margin of 57.0%. For the full year 2026, projected revenue is 44.00 billion EUR – 45.00 billion EUR, and gross margin is expected to be 56.0%.

Management commentary#

Management emphasized that the very strong gross margin this quarter was mainly the result of increased business related to equipment upgrades. According to management, positive effects on revenue and gross margin will begin to manifest during next year. Management indicated that key factors affecting margin will be sales volumes of specific technologies, and upgrades will be a significant factor shaping the margin next year and in subsequent years.