• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

ASML reports accidental earnings disclosure to Dutch market regulator

by October 16, 2024
written by October 16, 2024

By Toby Sterling

AMSTERDAM (Reuters) -Computer chip equipment maker ASML (AS:ASML) has informed the Dutch markets regulator of its accidental early disclosure of third-quarter earnings in what it described as a “technical error”, the company said on Wednesday.

ASML said in a statement it had reached out to the relevant financial authorities immediately following the incident.

A spokesperson for the Netherlands’ Financial Markets Authority (AFM) said it could not comment on whether it would investigate the matter, as it is bound by law not to disclose its conversations with firms.

“An important point is that information must be distributed to shareholders at the same time,” the spokesperson said.

ASML published the press release containing its third-quarter earnings on its website during trading hours, a half day earlier than planned. They included a downgrade in sales and bookings forecasts for 2025, leading to the biggest selloff in its shares in 20 years.

CEO Christophe Fouquet apologised on a call with analysts on Wednesday, calling it “unfortunate” given the seriousness of the forecast downgrade.

The Netherlands’ shareholder organization VEB reacted with dismay to the disclosure, but noted it was not the early disclosure, but the bad news, that led to the share sell-off.

“For a company which is the largest listed company in the Netherlands and also the leading technology company in Europe… it is not what we would expect from ASML,” said VEB head Gerben Everts in an interview.

“They must be ashamed that this happened and that it was so prominently in the news.”

ASML had a similar incident during its 2022 investor day, when an SEC filing on the company’s outlook was published ahead of the Dutch schedule.

Everts, himself a former AFM board member, said he did not believe shareholders have cause to sue for damages over the incident, or that the AFM will eventually issue any penalty worse than ASML’s public embarrassment.

But he took issue with ASML labelling the incident a technical error. “This is a human mistake,” he said. “Everybody makes mistakes.”

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
US set to tentatively award five new daily Washington flights
next post
Cisco, Nvidia lead mega-cap stock movers Wednesday afternoon

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Lawyer group urges overhaul of US bank charter...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Asia stocks drop as S. Korea shares fall to 1-yr low on deepening political crisis
    • Tesla launches updated Model Y in China, starting from $35k

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy