Skip to main content

Market Overview

ON Semiconductor Reports Q2 Earnings Miss

Share:

ON Semiconductor Corporation (NASDAQ: ON) reported second-quarter revenue at $1.347.7 billion, down 7% compared to 2018 second-quarter revenue. The company reported GAAP gross margin of 37% and non-GAAP gross margin of 37.1%.

ON Semiconductor reported GAAP diluted earnings per share of 24 cents, down 31% year-on-year. Non-GAAP diluted earnings per share came in at 42 cents, down 9% year-on-year.

"Business conditions continue to be soft, and we expect to see sub-seasonal demand trends in the near-term, as geopolitical factors will likely continue to weigh on demand. Despite near-term weakness in demand, key secular trends driving our business remain intact," said CEO Keith Jackson.

ON Semiconductor shares were trading down 6.86% at $18.61 in Monday’s pre-market session. The stock has a 52-week high of $23.54 and a 52-week low of $14.55.

Related Links:

Boise Cascade Reports Mixed Q2 Earnings

Jacobs Engineering Reports Q3 Earnings Beat

 

Related Articles (ON)

View Comments and Join the Discussion!

Posted-In: Earnings News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com