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ON Semiconductor Corp. (ON) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, ON Semiconductor Corp. (ON - Free Report) reported revenue of $2.18 billion, down 0.5% over the same period last year. EPS came in at $1.39, compared to $1.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.15 billion, representing a surprise of +1.59%. The company delivered an EPS surprise of +2.96%, with the consensus EPS estimate being $1.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ON Semiconductor Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Market- Automotive: $1.16 billion versus the six-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of +32.5%.
Revenue- Market- Others: $407.10 million versus $416.87 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -42.3% change.
Revenue- Market- Industrial: $615.80 million compared to the $626.28 million average estimate based on six analysts. The reported number represents a change of +0.4% year over year.
Shares of ON Semiconductor Corp. have returned -10.2% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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ON Semiconductor Corp. (ON) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, ON Semiconductor Corp. (ON - Free Report) reported revenue of $2.18 billion, down 0.5% over the same period last year. EPS came in at $1.39, compared to $1.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.15 billion, representing a surprise of +1.59%. The company delivered an EPS surprise of +2.96%, with the consensus EPS estimate being $1.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ON Semiconductor Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Market- Automotive: $1.16 billion versus the six-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of +32.5%.
- Revenue- Market- Others: $407.10 million versus $416.87 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -42.3% change.
- Revenue- Market- Industrial: $615.80 million compared to the $626.28 million average estimate based on six analysts. The reported number represents a change of +0.4% year over year.
View all Key Company Metrics for ON Semiconductor Corp. here>>>Shares of ON Semiconductor Corp. have returned -10.2% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.