ASML Beats Q2 Forecasts, Raises 2026 Revenue Guidance and Expands EUV/DUV Capacity

How did ASML's Q2 financial results beat market expectations?

ASML reported total net sales of €9.33 billion for the second quarter, above the market estimate of €8.85 billion, according to Cnyes. TechNews cited the same quarter's net sales at €9.3 billion versus a consensus of €8.8 billion, and reported net income of €2.9 billion versus an expected €2.6 billion. UDN's report put the figure identically: net sales of €9.3 billion, a gross margin of 54.0%, and net income of €2.9 billion.

Within that top line, TechNews reported that ASML shipped 86 new lithography systems and 5 used systems during the quarter, while its Installed Base Management segment — covering service and field upgrades — contributed €2.76 billion, above expectations. Cnyes also noted that ASML's largest customer, TSMC (台積電), reported June revenue growth of 68% and announced two new advanced packaging plants in the Chiayi Science Park, underscoring demand from ASML's customer base. Separately, Cnyes reported ASML is currently Europe's largest company by market capitalization, with its share price up 69% year-to-date.

What do ASML's profitability metrics show for the quarter?

Earnings per share came in at €7.59 for the quarter, according to Cnyes. TechNews confirmed net income of €2.9 billion against a forecast of €2.6 billion, while UDN reported the same €2.9 billion net income alongside a 54.0% gross margin for the period — a figure that sits at the low end of the 54–56% margin range ASML would go on to guide for the full year.

By how much did ASML raise its 2026 revenue and margin outlook?

According to Cnyes, ASML lifted its full-year 2026 revenue guidance to a range of €43.0–45.0 billion, up from a prior estimate of €36.0–40.0 billion. Gross margin guidance was raised to 54–56%, up from a prior estimate of 51–53%.

Where does this upgrade sit among ASML's revisions this year?

UDN reported that ASML "raised its outlook again" with the July announcement, describing it in the context of prior estimates: a January estimate of €34.0–39.0 billion in full-year revenue, followed by an April revision to €36.0–40.0 billion with a gross margin of 51–53%, and now the July revision to €43.0–45.0 billion with a 54–56% margin. UDN characterized the midpoint increase across these revisions at roughly 15.8%. The report frames the July guidance as a further upgrade layered on top of the April revision, though it does not specify whether this constitutes the second or third distinct revision of the year — the underlying euro figures from Cnyes match the April baseline UDN cites, but the two reports differ in how they count the total number of revisions made in 2026.

What does ASML expect for Q3 revenue and costs?

TechNews reported that ASML guided for third-quarter 2026 total net sales of €11.0–12.0 billion, with a gross margin of 55–57%. The company also guided for third-quarter R&D expenses of approximately €1.2 billion and selling, general and administrative expenses of approximately €0.4 billion, per the same report.

What are ASML's specific plans for capacity expansion?

According to TechNews, ASML plans to increase capacity for its low numerical aperture (low NA) EUV systems by 30% in 2027 relative to the roughly 65 units produced in 2026, and is evaluating a further 30% increase for 2028. For deep ultraviolet (DUV) immersion systems, ASML plans a similar 30% capacity increase in 2027 from the roughly 130 units produced in 2026, with a further 30% increase under evaluation for 2028.

How did ASML's CEO characterize AI-driven demand and order momentum?

TechNews quoted ASML President and CEO Christophe Fouquet as saying that continued AI-related investment and technological progress are driving demand for advanced logic and memory chips, reinforcing growth prospects for the semiconductor industry. Fouquet said that as customers accelerate capacity expansion, ASML's order intake in the first half of the year was "extremely strong," per the same report.

What this means

The figures reported across Cnyes, TechNews, and UDN are largely consistent: a Q2 beat on both net sales (€9.33 billion vs. an €8.85 billion estimate) and net income (€2.9 billion vs. a €2.6 billion estimate) accompanied a full-year 2026 guidance increase to €43.0–45.0 billion in revenue and 54–56% gross margin — up from €36.0–40.0 billion and 51–53% previously. That upgrade coincides with capacity-expansion plans of 30% for both low NA EUV and DUV immersion systems in 2027, and with Fouquet's description of "extremely strong" first-half order intake, an account of order momentum that lines up with TSMC's (台積電) reported 68% June revenue growth and its new packaging plant announcements. The one point of friction across sources is how many times ASML has revised its 2026 guidance this year: UDN's account of a January-to-April-to-July progression implies further layered revisions, while the underlying euro ranges it cites for April match the figures Cnyes lists as ASML's prior estimate ahead of the July update — leaving the precise count of revisions this year not fully reconciled between the two reports.