PHOENIX (AP) _ ON Semiconductor Corp. (ON) on Monday reported first-quarter profit of $530.2 million.
On a per-share basis, the Phoenix-based company said it had profit of $1.18. Earnings, adjusted for one-time gains and costs, came to $1.22 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The semiconductor components maker posted revenue of $1.95 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.91 billion.
For the current quarter ending in July, ON Semiconductor Corp. expects its per-share earnings to range from $1.20 to $1.32.
The company said it expects revenue in the range of $1.97 billion to $2.07 billion for the fiscal second quarter.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ON at https://www.zacks.com/ap/ON
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