ASML Q3 2025: When AI Dreams Meet China Reality
This morning ASML released their Q3 earnings, and there is some interesting data
Q3 was solid (€7.5B revenue, €2.1B net income, right on target), but the real story is what CEO Christophe Fouquet and CFO Roger Dassen spilled in the earning release —a tale of two worlds where AI enthusiasm clashes with China concerns, and ASML is making some bold strategic moves.
The Numbers Because They’re Public Anyway
Q3 2025 delivered exactly what ASML promised: €7.5 billion in sales, 51.6% gross margin, and €2.1 billion in net income. EPS came in at €5.49, while bookings hit €5.4 billion (€3.6 billion from EUV alone). Q4 guidance calls for €9.2-9.8 billion in revenue—a monster quarter that’ll push full-year 2025 sales up ~15% with a 52% gross margin.