ON Semiconductor Q2 Profit Rises - Quick Facts

(RTTNews) - ON Semiconductor Corp. (ONNN) Thursday reported second-quarter net income of $47.7 million or $0.11 per share, compared to $6.9 million or $0.02 per share last year.

Adjusted net income for the quarter was $57.2 million or $0.13 per share, compared to $65.0 million or $0.14 per share last year. Analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter dropped to $688.3 million from $744.8 million last year. Analyst estimated revenues of $696.1 million for the quarter.

Looking forward to the third quarter, the company expects revenues of $700 million to $730 million. Analysts currently estimate revenues of $737.44 million for the quarter.