On Semiconductor beats Q1 earnings and revenue estimates but stock falls 4.4% in after-hours trading

On Semiconductor reported Q1 earnings of 64 cents per share, beating analyst estimates of 60 cents by nearly 7%, and revenue of $1.51 billion, surpassing the $1.49 billion consensus. The company highlighted strong growth in its AI data center business, which more than doubled year-over-year and grew over 30% sequentially. CEO Hassane El-Khoury noted demand strengthened through the quarter, signaling recovery beyond the cyclical trough. For Q2, On Semiconductor expects adjusted EPS between 65 and 77 cents and revenue between $1.535 billion and $1.635 billion, both above analyst estimates. Despite the strong results, the stock dropped 4.41% to $97.54 in after-hours trading.