ON Semiconductor Delivers Strong Q3 Results, Sees Stable Outlook on AI Demand

Core Insights - ON Semiconductor Corp. reported strong third-quarter results, with revenue of $1.55 billion, exceeding analyst expectations of $1.52 billion, and non-GAAP earnings per share of $0.63, surpassing forecasts of $0.59 [1][2] Financial Performance - The company projected fourth-quarter revenue between $1.48 billion and $1.58 billion, with adjusted EPS expected between $0.57 and $0.67, aligning closely with Wall Street expectations of $1.53 billion in revenue and $0.62 in earnings per share [2] Market Trends - CEO Hassane El-Khoury highlighted that results exceeded projections due to stabilization in core markets and positive growth trends in AI-related demand, indicating a strong market position [3] - The company is actively expanding its portfolio of energy-efficient products targeted at automotive, industrial, and AI applications, reflecting a strategic focus on high-demand sectors [3]