By Katherine Hamilton
ON Semiconductor posted lower profit and revenue in the second quarter, but the results stayed roughly in line with Wall Street expectations as end markets stabilize.
The semiconductor maker on Monday posted a profit of $170.3 million, or 41 cents a share, in the second quarter, compared with $338.2 million, or 78 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 53 cents, which was what analysts had forecast, according to FactSet.
Revenue fell 15% to $1.47 billion. Analysts surveyed by FactSet had forecast revenue of $1.45 billion.
ON anticipates revenue in the third quarter will be $1.47 billion to $1.57 billion, compared with the $1.50 billion Wall Street is projecting. Earnings per share are expected to be 51 cents to 61 cents, while analysts are looking for 53 cents a share.
Chief Executive Hassane El-Khoury said ON's end markets are starting to stabilize. "Our ongoing transformation is resulting in a more predictable business model," he said.
The Scottsdale, Ariz., company said in February that it was cutting 9% of its workforce, or about 2,400 employees, to cut costs and push forward development amid waning demand.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
August 04, 2025 08:20 ET (12:20 GMT)
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