ASML raises 2026 forecast again as Q2 results top estimates

ASML ↘ 2.43% reported second-quarter 2026 results on Wednesday that exceeded analyst expectations, prompting the Dutch semiconductor equipment maker to raise its full-year revenue forecast for the second time this year as demand for artificial intelligence chips continues to accelerate.

Beating Expectations Across the Board

The company posted quarterly net sales of €9.3 billion and net income of €2.9 billion, with a gross margin of 54%. Analysts polled by LSEG had forecast revenue of €8.8 billion and net profit of €2.61 billion, meaning ASML beat consensus estimates by a wide margin on both measures.asml+2

ASML now expects full-year 2026 net sales between €43 billion and €45 billion, with a gross margin between 54% and 56%. That represents an increase of roughly 16% at the midpoint from its prior forecast range of €36 billion to €40 billion, which itself was an upgrade from the original €34 billion to €39 billion guidance issued in January. The company also guided third-quarter net sales between €11 billion and €12 billion, well above consensus expectations.finance.yahoo+5

AI Demand Drives Momentum

The results mark a continuation of the momentum ASML has experienced throughout 2026, fueled by chipmakers racing to expand production capacity for AI-related semiconductors. When the company first raised guidance in April alongside its first-quarter results, CEO Christophe Fouquet said demand for AI chips was outstripping supply. Customers including Samsung, SK Hynix, and TSMC Taiwan Semiconductor Manufacturing Company Limited ↘ 1.68% have been ordering ASML's advanced extreme ultraviolet lithography machines to build out fabrication capacity for high-bandwidth memory and advanced logic chips.youtube+1

ASML also announced plans for capacity additions of 30% to meet rising orders. The company is the sole supplier of EUV lithography systems, giving it an unmatched position in the semiconductor supply chain.fidelity

Broader Context

The results arrive amid heightened scrutiny over potential U.S. export restrictions on chip equipment to China and growing geopolitical tensions around semiconductor supply chains. ASML's record bookings of €13 billion in the fourth quarter of 2025 had already signaled the strength of the current cycle. Europe's most valuable listed company by market capitalization has now delivered consecutive quarters of guidance raises, underscoring the depth of the current AI-driven investment wave across the global chip industry.reuters+1