ON Semiconductor Corp. Q2 Profit Increases, beats estimates

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

The company's earnings totaled $577.0 million, or $1.29 per share. This compares with $456.3 million, or $1.02 per share, in last year's second quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $583.3 million or $1.33 per share for the period.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue held steady at $2.09 billion

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

-Earnings (Q2): $577.0 Mln. vs. $456.3 Mln. last year. -EPS (Q2): $1.29 vs. $1.02 last year. -Analyst Estimate: $1.21 -Revenue (Q2): $2.09 Bln vs. $2.09 Bln last year.

-Guidance: Next quarter EPS guidance: $1.27 to $1.41 Next quarter revenue guidance: $2,095 to $2,195 Mln