ON Semiconductor Corp. Q2 Profit Increases, beats estimates

(RTTNews) - ON Semiconductor Corp. (ON) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $455.8M, or $1.02 per share. This compares with $184.1 million, or $0.42 per share, in last year's second quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $589.3 million or $1.34 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.1% to $2.09 billion from $1.67 billion last year.

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

-Earnings (Q2): $455.8M. vs. $184.1 Mln. last year. -EPS (Q2): $1.02 vs. $0.42 last year. -Analyst Estimate: $1.26 -Revenue (Q2): $2.09 Bln vs. $1.67 Bln last year.

-Guidance: Next quarter EPS guidance: $1.25 - $1.37 Next quarter revenue guidance: $2,070 - $2,170 Mln