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Second-quarter revenue contracted 17% year over year, but that was good enough to edge by Wall Street's expectation. Adjusted earnings per share (EPS) contracted 28%, but that was also good enough to beat the analyst consensus estimate.
ON Semiconductor beat Wall Street's sales and earnings targets for Q2. The company also delivered better-than-expected guidance.
Major U.S. equities indexes were mixed and little changed on the first trading day of the week. The S&P 500 and the Nasdaq eked out gains of less than 0.1%, while the Dow closed Monday's session 0.1% lower.
onsemi's (ON) second-quarter 2024 performance reflects strong demand for Power solutions and automotive products.
The stock rallied Monday after a better-than-expected earnings report boosted investor confidence in the semiconductor stock. Jenny Horne looks into OnSemi (ON) ahead of a huge earnings week for the market.
Onsemi's (ON) stock price soared over 13% in early trading Monday, leading gains on the S&P 500 after the chipmaker reported better-than-expected revenue for the second quarter and highlighted gains in the automotive industry.
ON Semiconductor announced Q2 earnings today. Even though its earnings are declining on a yearly basis, the company beat expectations and expects promising growth.
While the top- and bottom-line numbers for ON Semiconductor Corp. (ON) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
ON Semiconductor Corp. (ON) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $1.33 per share a year ago.
Onsemi marginally beat Wall Street expectations for second-quarter revenue and profit on Monday, helped by resilient demand for its automotive chips in an uncertain market, sending its shares up 10% in premarket trading.