Onsemi forecasts first-quarter revenue below estimates
ReutersFeb 10, 2025 12:35 PM
Feb 10 (Reuters) - Onsemi ON.O forecast first-quarter revenue below Wall Street expectations on Monday, hit by softer demand for its automotive chips as customers cut back on orders owing to economic uncertainty, sending its shares down 10% in premarket trading.
Onsemi sees first-quarter revenue between $1.35 billion and $1.45 billion, compared with analysts' estimates of $1.69 billion, according to data compiled by LSEG.
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