ON Semiconductor Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - ON Semiconductor Corp. (ON) released earnings for third quarter that Decreased from last year but beat the Street estimates.

The company's earnings totaled $255.0 million, or $0.63 per share. This compares with $401.7 million, or $0.93 per share, last year.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $256.3 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.62 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 11.9% to $1.55 billion from $1.76 billion last year.

ON Semiconductor Corp. earnings at a glance (GAAP) :

-Earnings: $255.0 Mln. vs. $401.7 Mln. last year. -EPS: $0.63 vs. $0.93 last year. -Revenue: $1.55 Bln vs. $1.76 Bln last year.

-Guidance: Next quarter EPS guidance: $0.57 - $0.67 Next quarter revenue guidance: $1,480 - $1,580 Mln