tiprankstipranks
ON Delivers Better-than-Expected Q2 Results
Market News

ON Delivers Better-than-Expected Q2 Results

Shares of semiconductor company, ON Semiconductor Corp. (NASDAQ: ON) rose in pre-market trading at the time of writing on Monday after the company reported Q2 adjusted earnings of $1.33 per share, flat year-over-year but above analysts’ estimates of $1.21 per share.

The company’s revenues stayed flat year-over-year to $2.09 billion, beating analysts’ expectations of $2.02 billion.

Looking forward, management now expects Q3 revenues in the range of $2.1 billion to $2.195 billion while adjusted earnings are likely to be between $1.27 and $1.41 per share.

Overall, Wall Street analysts are bullish about ON stock with a Strong Buy consensus rating based on 18 Buys and five Holds.

Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App