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Jun 30, 2023
ON Semiconductor Q2 2023 Earnings Report
ON Semiconductor's Q2 2023 results exceeded expectations, driven by automotive and industrial end-markets.
Key Takeaways
ON Semiconductor reported Q2 2023 revenue of $2,094.4 million, which remained flat year-over-year. The company's GAAP diluted earnings per share was $1.29, and non-GAAP diluted earnings per share was $1.33. Automotive revenue exceeded $1 billion, increasing 35% year-over-year, while industrial revenue reached $609.3 million, a 5% increase year-over-year.
Revenue of $2,094.4 million, flat year-over-year
GAAP and non-GAAP gross margin of 47.4 percent
GAAP operating margin and non-GAAP operating margin of 32.2 percent and 32.8 percent respectively
GAAP diluted earnings per share of $1.29 and non-GAAP diluted earnings per share of $1.33
Forward Guidance
onsemi’s projected third quarter of 2023 GAAP revenue is expected to be between $2,095 million and $2,195 million, with a gross margin of 45.9% to 47.9% and diluted earnings per share between $1.21 and $1.35.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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