Its net profit also dropped to 1.2bn a 37% decrease compared to Q4 2023.
We see 2024 as a transition, ASMLs President and CEO Peter Wennink said in a statement.
Wennink expects a stronger second half of the year in line with the industrys continued recovery from the downturn.
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Thats despite ASMLs entanglement in an escalatingchip warbetween the US and China, which has led toexport restrictions.
ASML expects that the restrictions will impact approximately 15% of sales in China.
Sales in the first quarter of this year were down300mncompared to the previous quarter.
The Dutch tech giant forecasts global net sales between 5.7bn and 6.2bn for the second quarter.
It reached 6.9bn in the same period last year.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
