More on ON Semiconductor's earnings

|About: ON Semiconductor Corporation (ON)|By:, SA News Editor

ON Semiconductor (ONNN) Q2 beats on a per share basis but comes up short on the top line.

Net profit soared from the prior-year period on smaller impairments and lower costs.

Looking forward, the company lowers guidance, now expecting revenue for the third quarter to be between $700M and $730M. Analysts had expected $737M.

Gross margin narrowed to 33.7% from 34.7%.

Shares -7% AH.