ON Semiconductor's first quarter 2026 results beat estimates, driven by accelerating AI data center demand.

ON Semiconductor reported first quarter results that surpassed analyst expectations for both revenue and EPS, signaling a potential move beyond the cyclical trough. The company highlighted significant acceleration in its AI data center business, which helped offset continued softness in the automotive segment.

Key Highlights

• The company noted its AI data center business revenue more than doubled year-over-year and grew by over 30% sequentially.
• The Power Solutions Group (PSG) reported revenue of $736.6 million, an increase of 14% year-over-year, indicating strength in industrial markets.
• In contrast, the Advanced Mobility Group (AMG), which serves the automotive market, saw revenue decline 5% year-over-year to $540.4 million.
• Management provided second quarter 2026 non-GAAP EPS guidance of $0.65 to $0.77 and revenue guidance of $1.535 billion to $1.635 billion.