ASM’s Sales Outlook Beats Estimates as China Demand Rebounds

ASM International NV forecast revenue for the first quarter that beat analysts’ estimates, boosted by higher demand from China and continued artificial intelligence investments.

The Dutch chip equipment maker anticipates revenue of €830 million ($962 million) in the January to March quarter, with a range of 4% above or below that level, according to a statement after market hours Tuesday. That compares with the average €767 million analyst estimate, according to data compiled by Bloomberg. ASM expects revenue to grow throughout the year, with second quarter sales higher than in the current period and better performance in the second half than in the first.