Overview
- ON Semiconductor reported adjusted EPS of $0.64 on revenue of $1.51 billion, topping analyst estimates on both metrics.
- The stock fell about 4.2% in after‑hours trading as expectations rose sharply after a strong run this year.
- Management guided second‑quarter EPS to $0.65–$0.77 and revenue to $1.54–$1.64 billion, both above Wall Street forecasts.
- CEO Hassane El‑Khoury said the company has moved beyond its cyclical trough and cited more than 30% quarter‑over‑quarter growth in AI data center sales.
- Gross margin improved to 38.5% with $239 million in operating cash flow, $217 million in free cash flow, and $346 million in share buybacks.