ON Semiconductor jumps on AI data-center demand and Q3 guidance
+0.47% to $80.78 from $80.40
What moved ON
- Q2 revenue was $1.6 billion with non-GAAP gross margin of 39.3% and non-GAAP EPS of $0.74, slightly above the $0.736 consensus.
- Free cash flow quadrupled year over year to $425.4 million, and cash from operations rose 150%.
- Q3 guidance calls for revenue of $1.65-$1.75 billion and non-GAAP EPS of $0.81-$0.93.
- The company said AI data-center revenue is expected to more than double in 2026, citing new design wins including Nvidia MGX, Great Wall, and AWS.
- Shares gained roughly 7% in after-hours trading following the report.
Sources: Investing.com · Benzinga · ChartMill