ON Semiconductor (ON) Tops Q2 EPS by 1c; Issues Solid Outlook

ON Semiconductor (NASDAQ: ON) reported Q2 EPS of $0.46, $0.01 better than the analyst estimate of $0.45. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.43 billion.

"We delivered strong results in the second quarter. Demand for our products continues to accelerate as customers are increasingly relying on us to provide key technologies for newly emerging applications in automotive and industrial markets. With a pipeline of new products and strengthening customer engagement, we are well positioned to benefit from disruptive trends in our markets," said Keith Jackson, president and CEO of ON Semiconductor. "Along with strong revenue growth, we continue to deliver robust margin expansion, which points to strong leverage in our operating model."

"We are increasingly upbeat about our long term outlook, and we are making prudent investments in our manufacturing infrastructure to sustain our revenue momentum and to further strengthen our industry-leading cost structure."

GUIDANCE:

ON Semiconductor sees Q3 2018 revenue of $1.485-1.535 billion, versus the consensus of $1.48 billion.

For earnings history and earnings-related data on ON Semiconductor (ON) click here.

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