03:27 PM EDT, 10/15/2024 (MT Newswires) -- (Updates throughout with stock movement, CEO remarks, and early publication statement.)

ASML Holding ( ASML ) was trading more than 17% lower Tuesday afternoon after the Dutch chipmaker guided its 2025 sales below Wall Street estimates while posting better-than-expected Q3 results.

ASML ( ASML ) Chief Executive Christophe Fouquet said in a statement that a recovery in market segments other than artificial intelligence has been "more gradual than previously expected" and likely extending into 2025 and "leading to customer cautiousness."

The company is now projecting between 30 billion euros ($32.67 billion) to 35 billion euros in 2025 sales, which Fouquet said would be in the "lower half" of its prior outlook expecting 30 billion to 40 billion euros in sales next year. Analysts surveyed by Capital IQ have been looking for 35.77 billion euros.

ASML ( ASML ) Tuesday reported Q3 net income of 5.28 euros per share on 7.47 billion euros in sales compared with net income of 4.81 euros and revenue of 6.67 billion euros a year earlier. Analysts had been expecting a profit of 4.86 euros per share on 7.17 billion euros in sales.

The company, which accidentally published its Q3 results on its website a day early due to a technical error, also said it sees Q4 sales in a range of 8.8 billion euros to 9.2 billion euros compared with the analyst consensus expecting 8.95 billion euros for the current quarter.

Price: 719.35, Change: -152.92, Percent Change: -17.53