{"id":183103,"date":"2023-10-30T15:39:40","date_gmt":"2023-10-30T15:39:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=183103"},"modified":"2023-10-30T15:39:40","modified_gmt":"2023-10-30T15:39:40","slug":"on-semiconductor-tanks-as-revenue-drops-in-q3-outlook-below-estimates","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/on-semiconductor-tanks-as-revenue-drops-in-q3-outlook-below-estimates\/","title":{"rendered":"ON Semiconductor Tanks As Revenue Drops In Q3; Outlook Below Estimates"},"content":{"rendered":"
Shares of ON Semiconductor Corporation (ON) are falling more than 18% Monday morning after the company reported lower revenue in the third quarter. The company’s fourth-quarter revenue outlook also came in below analysts’ view.<\/p>\n
Revenue in the third declined to $2.181 billion from $2.193 billion a year ago.<\/p>\n
For the fourth quarter, ON Semi expects revenue to be in the range of $1.950 billion – $2.050 billion, below the average estimate of analysts polled by Thomson-Reuters of $2.18 billion.<\/p>\n
ON Semi shares, currently at $68.44, have traded in the range of $58.43 – $111.35 in the last 1 year. <\/p>\n