ON Semiconductor Reports Q3 Earnings Beat with $1.72 Billion in Revenue
ON Semiconductor (ON) reported third-quarter financial results that exceeded analyst expectations on both the top and bottom lines. The company posted a non-GAAP earnings per share (EPS) of $0.90, surpassing consensus estimates by $0.02, while revenue reached $1.72 billion, representing an 11% increase year-over-year and beating estimates by $10 million. Looking ahead to the fourth quarter, the company provided guidance with a revenue range of $1.715 billion to $1.815 billion. Market consensus for Q4 non-GAAP EPS stands at $0.96, as the semiconductor manufacturer continues to navigate shifting demand in its core markets.
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