ON Semiconductor Corp.: 3Q Earnings Snapshot

PHOENIX (AP) _ ON Semiconductor Corp. (ON) on Sunday reported third-quarter net income of $166.9 million.

The Phoenix-based company said it had profit of 38 cents per share. Earnings, adjusted for non-recurring costs, were 57 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The semiconductor components maker posted revenue of $1.54 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.51 billion.

For the current quarter ending in December, ON Semiconductor Corp. said it expects revenue in the range of $1.48 billion to $1.53 billion.

ON Semiconductor Corp. shares have dropped 30 percent since the beginning of the year. The stock has fallen 30 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ON at https://www.zacks.com/ap/ON