ON - ON Semiconductor Analysts Cut Their Forecasts After Q1 Results | Benzinga
ON Semiconductor Corp (NASDAQ:ON) reported better-than-expected first-quarter results on Monday.
ON Semiconductor reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the consensus of $1.85 billion. The adjusted EPS of $1.08 beat the consensus of $1.04, according to data from Benzinga Pro.
Revenue from Power Solutions Group (PSG) grew 2% year over year to $874.2 million, Analog and Mixed-Signal Group (AMG) decreased 6% year over year to $697.0 million, and Intelligent Sensing Group (ISG) fell 18% year over year to $291.5 million.
“The structural changes we have made to the business over the last three years have enabled us to sustain our gross margin despite ...