Oct 27 (Reuters) - ASM International forecast on Tuesday fourth-quarter revenue above expectations and said it would reach its 2030 sales target three years early, driven by AI-related capacity investments.
The Dutch chip equipment maker expects fourth-quarter revenue of 1.23 billion euros ($1.37 billion), plus or minus 5%, beating analysts' average forecast of 1.18 billion euros, according to a poll by LSEG.
• ASM expects revenue to exceed 5.7 billion euros at constant currencies in 2027, reaching the sales target set for 2030 ahead of schedule. Analysts polled by LSEG expected 2027 revenue of 5.41 billion euros
• Michael Roeg of Degroof Petercam said the earnings were a "triple beat", driven by stronger-than-expected Q3 revenue, quarterly and annual outlook
• Artificial intelligence has emerged as the industry's main growth driver; however, with expectations running high investors are closely scrutinizing earnings for evidence that demand is keeping pace with massive investments
• Third-quarter sales came in at 1.16 billion euros, compared with analysts' estimate of 1.10 billion euros
• ASM makes machines that deposit ultra-thin layers of material onto silicon wafers. It leads in atomic layer deposition, a technique that builds films one atomic layer at a time and is needed for the most advanced chip models
($1 = 0.8961 euros)
(Reporting by Ozan Ergenay and Nathan Vifflin in Gdansk; Editing by Perla Velasco)