ASML Reports Strong Q2 Sales Amid U.S. Restrictions

ASML, a major supplier for computer chip manufacturing equipment, has reported strong Q2 earnings with significant sales to China amounting to 2.33 billion euros. This comes amid escalating U.S.-led restrictions, leading Chinese chipmakers to increase purchases of older generation equipment.

ASML, the largest supplier of equipment to computer chipmakers, announced its second-quarter earnings on Wednesday, revealing robust sales of its lithography systems to China. The sales reached 2.33 billion euros ($2.54 billion), almost half of ASML's total for the quarter.

Amidst growing U.S.-led restrictions on access to ASML's advanced gear, Chinese chipmakers have been increasing their purchases of older generation equipment. This trend highlights their strategic move to mitigate the impact of the tightening controls on technology.

Notably, the value of the euro was pegged at $1 equaling 0.9172 euros during the reporting period.

(With inputs from agencies.)