Reported 3 months ago
Shares of ON Semiconductor surged 11.5% following the release of its Q2 earnings, which outperformed Wall Street expectations. The company reported revenues of $1.735 billion and adjusted EPS of $0.96, while highlighting a new supply agreement with Volkswagen for electric vehicle power systems. Despite overall revenue being down 17% year-over-year, the stock remains a focal point due to its position as a leading silicon carbide chip producer.
Source: YAHOO