Ups fullyear sales growth forecast to 30 from 25
Q2 net profit up 35 at 1.9 billion euros vs forecast 1.82 bln
Q2 sales up 28 to 6.9 billion vs forecast 6.74 billion

AMSTERDAM, July 19 Reuters Dutch semiconductor equipment maker ASML reported secondquarter earnings that beat expectations on Wednesday and boosted its fullyear sales outlook, citing strong demand from Chinese customers.

Peter Wennink, CEO of Europe39;s biggest tech company by market value, increased ASML39;s fullyear sales growth forecast to 30, up from a previous 25, in part due to continuing strong demand from Chinese customers, who can only buy slightly older equipment due to export control rules.

Our customers across different market segments are currently more cautious due to continued macroeconomic uncertainties, and therefore expect a later recovery, Wennink said in a statement.

However, our strong order backlog of around 38 billion euros 42.6 billion provides us with a good basis to navigate these shortterm uncertainties, Wennick said.

Net profit was up 35 from a year ago to 1.9 billion euros on sales up 28 to 6.9 billion, beating average analyst expectations of 1.82 billion euros and 6.74 billion respectively, according to Refinitiv data.

ASML dominates the market for lithography systems, machines that cost up to 200 million apiece and which use lasers, lenses and mirrors to help create the minute circuitry of chips. It is a supplier to almost every computer chip maker and is expanding…