ON Semiconductor Beats Q2 Revenue and EPS, Lifts Guidance Above Estimates
Revenue of $1.60bn and adjusted EPS of 74c topped forecasts; Q3 outlook also surpasses consensus.
ON Semiconductor reported second-quarter revenue of $1.60 billion, edging past the $1.59 billion consensus estimate. Adjusted earnings per share came in at 74 cents, compared with the 71 cents expected. Reported EPS was 56 cents, up from 41 cents a year earlier.
For the third quarter, the company guided revenue in a range of $1.65 billion to $1.75 billion, versus the $1.67 billion analyst forecast. It expects adjusted EPS of 81 cents to 92 cents, implying a midpoint above the 84 cents consensus.
The beats on both the top and bottom lines, along with an outlook that narrowly exceeds street expectations, signal resilient demand in the chipmaker's end markets.
Source: First Squawk