ON Semiconductor Corp. Beats Q2 Earnings and Revenue Estimates
ON Semiconductor Corp. (NASDAQ: 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. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.35%. A quarter ago, it was expected that this semiconductor components maker would post earnings of $1.04 per share when it actually produced earnings of $1.08, delivering a surprise of 3.85%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
ON Semiconductor Corp., which belongs to the Zacks Semiconductor – Analog and Mixed industry, posted revenues of $1.74 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.20%. This compares to year-ago revenues of $2.09 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
ON Semiconductor …
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