ON Semiconductor Corp. Q1 Profit Beats Estimates

(RTTNews) - ON Semiconductor Corp. (ON) revealed a profit for first quarter that beat the Street estimates.

The company's bottom line came in at $453.0 million, or $1.04 per share. This compares with $462.1 million, or $1.03 per share, in last year's first quarter.

Excluding items, ON Semiconductor Corp. reported adjusted earnings of $464.5 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.1% to $1.86 billion from $1.96 billion last year.

ON Semiconductor Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $453.0 Mln. vs. $462.1 Mln. last year. -EPS (Q1): $1.04 vs. $1.03 last year. -Revenue (Q1): $1.86 Bln vs. $1.96 Bln last year.

-Guidance: Next quarter EPS guidance: $0.86 to $0.98 Next quarter revenue guidance: $1,680 to $1,780 Mln