Onsemi reports earnings beat on AI data strength, improving industrial trends

Onsemi (NASDAQ:ON) reported stronger-than-expected first quarter results, supported by continued strength in AI data center demand and improving trends in industrial markets, alongside a gradual recovery in automotive. The semiconductor company posted adjusted earnings of $0.64 per share on revenue of $1.51 billion, compared with consensus estimates of $0.61 per share and $1.49 billion in revenue.