ASML Watch posted an update
ASML’s service and upgrade business grew faster than system sales in the second quarter, according to Michael Kramer’s analysis for Capital.com. Installed base management revenue rose 31.8% year on year to €2.8bn; net system sales grew 17.3% to €6.6bn.
Why it mattersThe article also says ASML beat analysts’ average revenue estimate in 14 of the 21 quarters it examined, and the average earnings-per-share beat was 8.2%. As of 5 October, its forward price-to-earnings ratio stood above its five-year average and median. That is historical context, not a verdict on the shares or a forecast of the next results. The useful distinction ahead of earnings: ASML’s business includes both selling lithography systems and servicing the machines already installed.
Discuss: Which matters more when judging ASML’s next results: new system sales or the growing service business?
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