The Dutch semiconductor equipment maker said gross margin reached a record 57.5%, up from 51.6% a year earlier, while operating income rose to $5.79 billion (€5.17 billion). Net income came in at $5.56 billion (€4.96 billion), a figure that includes about $570 million (€510 million) from re-evaluating the company's investment in AI firm Mistral AI.
ASML sold 121 lithography systems during the quarter, including 113 new and eight refurbished machines, up from 91 systems in the previous quarter. Revenue from 17 EUV systems totalled $4.59 billion, while 85 DUV tools and 19 i-line tools generated $4.82 billion. The company also recognised revenue from one High-NA EUV system. Logic chipmakers accounted for 54% of equipment revenue and memory makers 46%.
By region, Taiwan accounted for 32% of equipment sales, followed by South Korea at 31%, China at 23%, the United States at 13% and the rest of Asia at 1%. ASML's Installed Base Management business generated $3.68 billion, roughly $450 million above guidance, helped by demand for productivity upgrades.
For the fourth quarter, ASML expects revenue of $15.9 billion to $17.0 billion and a gross margin of approximately 57%. Full-year revenue is projected at $49.3 billion to $50.4 billion, up about 36% year on year. The company expects EUV revenue to grow by more than 45% year on year, while memory-related equipment sales are expected to rise by roughly 75%, pointing to strong demand from DRAM producers.
ASML said demand for its lithography systems is expected to exceed production capacity in 2027 and 2028. Some clients are already interested in placing orders as far ahead as 2030, prompting the company to consider further capacity expansions beyond previously announced plans.