On October 29, 2024, Onsemi (NASDAQ: ON) announced its third quarter results for 2024, with the following highlights:

The third quarter revenue was 1.7619 billion US dollars;

In the third quarter, the GAAP and non GAAP gross profit margins were 45.4% and 45.5%, respectively;

The GAAP operating profit margin and non GAAP operating profit margin for the third quarter were 25.3% and 28.2%, respectively;

The GAAP diluted earnings per share for the third quarter were $0.93, while non GAAP diluted earnings per share were $0.99;

In the past 12 months, 75% of free cash flow has been returned to shareholders through stock repurchases.

The third quarter performance exceeded expectations, thanks to our continued improvement in execution and prudent financial management, resulting in stable performance in the current environment, "said Hassane El Khoury, President and CEO of Anson Mei." As the demand for electricity in key markets continues to grow, the need for higher energy efficiency has become crucial. We are investing in the entire power sector to win the market and ensure that Anson Mei's market share in automotive, industrial, and artificial intelligence (AI) data centers continues to increase