ON Semiconductor disclosed second-quarter net income of $226.8 million, a jump from $170.3 million in the prior-year period, fueled by accelerating demand from AI data center customers.
On a per-share basis, GAAP diluted earnings came in at $0.56, compared with $0.41 in the same period last year
Excluding one-time items, the company posted adjusted earnings of $0.74 per share, topping the $0.71 per share consensus estimate among analysts polled by FactSet, according to The Wall Street Journal. Revenue climbed 9% from the year-ago quarter to $1.6 billion, edging past the $1.59 billion that FactSet-polled analysts had projected, according to the Journal. President and CEO Hassane El-Khoury said in a statement that the company delivered revenue, gross margin, and earnings per share above the midpoint of guidance. “AI data center remains our fastest-growing business, and we now expect revenue to more than double in 2026, demonstrating the strength of our intelligent power portfolio and growing customer adoption across the power tree,” he said.
The company’s Power Solutions Group segment led revenue growth, rising 19% year over year to $829 million. The Automotive and Mixed-Signal Group brought in $545.7 million, down 2% from a year earlier, while the Intelligent Sensing Group contributed $228.8 million, up 7%. Free cash flow quadrupled year over year to $425.4 million, and cash from operations rose 150%, the company said.