By Elsa Ohlen
ASML stock soared after posting quarterly earnings that beat analysts' expectations early Wednesday, erasing losses after the market went into a tailspin about DeepSeek's low-cost AI model earlier this week.
Amsterdam-listed shares of the Dutch semiconductor equipment maker jumped 11% to EUR718.50 ($749.10).
The company reported fourth-quarter earnings of 6.85 euros a share on sales of 9.3 billion euros, beating expectations for earnings of 6.72 euros on sales of 9.1 billion euros.
"The growth in artificial intelligence is the key driver for growth in our industry," said CEO Christophe Fouquet. "It has created a shift in the market dynamics that isn't benefiting all of our customers equally, which creates both opportunities and risks as reflected in our 2025 revenue range," he added.
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Write to Elsa Ohlen at elsa.ohlen@barrons.com
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(END) Dow Jones Newswires
January 29, 2025 04:09 ET (09:09 GMT)
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