03.11.2021 • News
ON Semiconductor reports Record Revenue for Third Quarter 2021
ON Semiconductor Corporation announced results for the third quarter of 2021. The company reports a record revenue of $1,742.1 million, an increase of 32 percent year-over-year.
Hassane El-Khoury, president and CEO of On Semiconductor, was pleased with the results. He stated: “We delivered another quarter of record results driven by on-going execution of our new strategy with demand remaining strong for our intelligent power and sensing solutions in the automotive and industrial end-markets."
He continues: "With a rapidly expanding design-win funnel for disruptive applications such as electric vehicles, ADAS, industrial automation, and alternative energy, coupled with ongoing transformational changes, we are making sustainable progress towards our target financial model”.
Selected financial results for the quarter are shown with comparable periods. Image: On Semiconductor
