ON Semiconductor Q3 Earnings: Revenue And EPS Beat Amid 19% Topline Drop and Margin Pressure, Eyes Growth in Automotive & AI Markets

ON Semiconductor Corp (NASDAQ: ON) stock reported a fiscal third-quarter 2024 revenue decline of 19.2% year-on-year to $1.76 billion, beating the analyst consensus estimate of $1.75 billion.

The adjusted EPS of $0.99 beat the analyst consensus estimate of $0.97.

Revenue from Power Solutions Group (PSG) declined 23% year over year to $829.4 million, Analog and Mixed-Signal Group (AMG) decreased 16% year over year to $653.7 million, and Intelligent Sensing Group (ISG) fell 15% year over year to $278.8 million.

Also Read: ON Semiconductor Diversifies Supply Chain, Targets Savings With New Manufacturing Investments

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