ON Semiconductor Corp. Q3 Profit Beats Estimates

(RTTNews) - ON Semiconductor Corp. (ON) released a profit for third quarter that beat the Street estimates.

The company's earnings came in at $311.9 million, or $0.70 per share. This compares with $309.7M, or $0.70 per share, in last year's third quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $639.4 million or $1.45 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.9% to $2.19 billion from $1.74 billion last year.

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

-Earnings (Q3): $311.9 Mln. vs. $309.7M. last year. -EPS (Q3): $0.70 vs. $0.70 last year. -Analyst Estimates: $1.31 -Revenue (Q3): $2.19 Bln vs. $1.74 Bln last year.

-Guidance: Next quarter EPS guidance: $1.18 to $1.34 Next quarter revenue guidance: $2,010 to $2,140 Mln