However, the company forecast second-quarter revenue and profit below analysts estimates, fanning concerns of a delay in the recovery of automotive chip demand as a softening EV market and excess inventory at customers are expected to hit orders for Onsemi s chips.
(Reuters) - Chipmaker Onsemi beat Wall Street expectations for quarterly revenue and profit on Monday and reported a stable gross margin due to lowered costs, in the face of weakening electric vehicle sales. "The structural changes we have made to .
Chipmaker Onsemi beat Wall Street's targets for the fourth quarter but guided below views for the current quarter. The post Chipmaker Onsemi Beats Q4 Views…
Chipmaker Onsemi forecast fourth-quarter revenue and profit below market expectations on Monday, in a sign that slowing demand for electric vehicles was beginning to hurt orders for its chips from the automotive industry.Its shares fell 4.4 per cent in trading before the bell as the Arizona-based company
Onsemi cuts jobs, forecast weak fourth-quarter on slowing EV demand streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.