ON Semiconductor-onsemi (ON) Q1 Earnings Beat Estimates, Revenues Down Y/Y

onsemi (ON) reported first-quarter 2024 non-GAAP earnings of $1.08 per share, outpacing the Zacks Consensus Estimate by 3.85% but declining 9.2% year over year.Revenues of$ 1.86 billion beat the Zacks Consensus Estimate by 0.61% but declined 4.9% on a year-over-year basis.Top-Line DetailsPower Solutions Group revenues of $874.2 million (accounting for 47% of revenues) increased 1.6% year over year. The figure beat the Zacks Consensus Estimate by 2.68%.Analog & Mixed Group revenues of$ 697 million (37.4% of ...