Q3 net profit 1.9 bln euros, in line with expectations
Net bookings 2.6 bln euros vs Jefferies forecast 4.5 bln
Sees flat 2024 sales vs analyst forecast for 7 rise

AMSTERDAM, Oct 18 Reuters Semiconductor equipment maker ASML Holding NV reported lowerthanexpected orders on Wednesday and warned of flat sales next year as customers conserve cash against an uncertain economic backdrop, hitting its shares.

Europe39;s largest technology firm said the semiconductor industry was probably near a trough but that customers continue to be uncertain about the shape of the demand recovery … we therefore expect 2024 to be a transition year.

Customers are being very cautious with cash, being very cautious with capex, and as a result of that, they39;re also very cautious with putting in orders, said Chief Financial Officer Roger Dassen.

ASML shares erased some early losses and were 1.9 lower at 562 euros at 0725 GMT in Amsterdam.

The company reported net profit of 1.9 billion euros 2.01 billion for the three months ended Sept. 30, in line with analysts39; expectations.

Net bookings were 2.6 billion euros, compared with third quarter sales of 6.7 billion euros.

Analyst Jos Versteeg of InsingerGilissen said ASML39;s overall outlook remains strong.

This is a profit warning, and we39;re not used to that coming from ASML, after years of rapid growth, he said.

He added that the company is affected by timing issues, including completion of a big new Taiwan Semiconductor TSMC…