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Notes revenue of $1,347.7 million, down approximately 7% compared to 2018 second quarter revenue.
August 6, 2019
By: DAVID SAVASTANO
ON Semiconductor Corporation announced that 2019 second quarter revenue was $1,347.7 million, down approximately 7% compared to 2018 second quarter revenue, while 2019 second quarter revenue was down approximately 3% as compared to 2019 first quarter revenue.  During the second quarter, ON Semiconductor announced that it has signed a definitive agreement to acquire, in a phased transaction, a 300mm fab located at East Fishkill, NY and related assets from GLOBALFOUNDRIES. ON Semiconductor also announced the close of its previously announced acquisition of Quantenna Communications.  “Business conditions continue to be soft, and we expect to see sub-seasonal demand trends in the near-term, as geopolitical factors will likely continue to weigh on demand. Despite near-term weakness in demand, key secular trends driving our business remain intact,” said Keith Jackson, president and CEO of ON Semiconductor. “We remain confident in our strategy of focusing on secular megatrends in automotive, industrial, and cloud-power end-markets, and we are prudently investing to further strengthen our position in these markets.”
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