On Semiconductor Corporation
ON Semiconductor Q2 2024 Financial Results
Summary
ON Semiconductor Corporation announced its financial results for the second quarter of 2024, reporting a decrease in revenue and earnings compared to the previous quarter and year. The company's non-GAAP diluted earnings per share was $0.96, and free cash flow increased by approximately $250 million over the last twelve months. The company also provided its outlook for the third quarter of 2024.
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About On Semiconductor Corporation
On Semiconductor Corporation, commonly known as onsemi, is a leading semiconductor supplier focused on complete intelligent sensing and energy-efficient solutions. The company provides innovative and reliable products that improve energy efficiency and enable the latest green technologies. onsemi's portfolio includes power management, analog, sensors, connectivity, custom, and system-on-chip (SoC) solutions. It serves a variety of markets, such as automotive, industrial, communications, and consumer electronics. The primary function of onsemi is to enhance the performance and efficiency of electronic products used in everyday life and in critical applications ranging from smart grids to advanced driver-assistance systems (ADAS). With a strong emphasis on research and development, onsemi is dedicated to driving advancements in technology that facilitate cleaner energy consumption and smarter electronic systems. Within the financial markets, onsemi plays a significant role given its strategic position in key growth sectors like electric vehicles and smart infrastructure. By leveraging cutting-edge technologies, the corporation continually contributes to the advancement of semiconductor technologies, reinforcing its relevance as a pivotal entity in the evolving landscape of global electronics and electrification initiatives.
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