Chipmaker Onsemi forecast its third-quarter revenue in the range of $1.65 billion to $1.75 billion, the midpoint of which is above analysts’ average estimate of $1.67 billion.
Strong Demand for AI Data Center Chips
Onsemi’s results come as it looks to its biggest deal yet, a $7 billion all-stock acquisition of Synaptics announced in June, to tap into growing demand from AI devices and robotics. The company posted second-quarter revenue of $1.6 billion, in line with expectations of $1.59 billion.
Adjusted earnings per share came in at $0.74, above estimates of $0.71. Onsemi expects third-quarter adjusted EPS in the range of $0.81 to $0.93, the midpoint of which is above estimates of $0.83.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
