12:08 PM EDT, 04/17/2024 (MT Newswires) -- (Updates with the latest stock move in the headline and first paragraph.)

ASML Holding ( ASML ) shares fell 7.8% in recent Wednesday trading after the company reported lower Q1 earnings and sales.

Earnings in Q1 fell to 3.11 euros ($3.30) per diluted share from 4.95 euros a year earlier, the company said Wednesday.

Analysts polled by Capital IQ expected 2.76 euros.

Net sales in the three months ended March 31 fell to 5.29 billion euros from 6.75 billion euros a year earlier.

Analysts polled by Capital IQ expected 5.4 billion euros.

In Q2, the semiconductor manufacturing equipment company said it expects sales of 5.7 billion euros to 6.2 billion euros. Analysts surveyed by Capital IQ expect 6.43 billion euros.

The company said it plans to increase the total dividend for 2023 by 5.2% to 6.10 euros per ordinary share, with the final dividend for the year at 1.75 euros per ordinary share to be proposed at its annual general meeting.