ON Semiconductor Corp. Q3 adjusted earnings Beat Estimates

(RTTNews) - ON Semiconductor Corp. (ON) announced a profit for its third quarter that rose from the same period last year.

The company's profit came in at $309.7M, or $0.70 per share. This compares with $160.6M, or $0.38 per share, in last year's third quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $380.3 million or $0.87 per share for the period.

Analysts had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.8% to $1.74 billion from $1.32 billion last year.

ON Semiconductor Corp. earnings at a glance:

-Earnings (Q3): $380.3 Mln. vs. $111.8 Mln. last year. -EPS (Q3): $0.87 vs. $0.27 last year. -Analysts Estimate: $0.74 -Revenue (Q3): $1.74 Bln vs. $1.32 Bln last year.

-Guidance: Next quarter EPS guidance: $0.89 to $1.01 Next quarter revenue guidance: $1,740 to $1,840 Mln