08:26 AM EDT, 04/29/2024 (MT Newswires) -- ON Semiconductor (ON) reported fiscal Q1 non-GAAP earnings Monday of $1.08 per diluted share, down from $1.19 a year earlier.

Analysts polled by Capital IQ expected $1.05.

Revenue for the quarter ended March 29 was $1.86 billion, down from $1.96 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.85 billion.

The company said it expects fiscal Q2 non-GAAP EPS of $0.86 to $0.98 on revenue of $1.68 billion to $1.78 billion. Analysts surveyed by Capital IQ expect normalized EPS of $1.01 on revenue of $1.83 billion.

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