onsemi reports 9% revenue growth and raises third-quarter outlook

onsemi reported second-quarter 2026 revenue of $1.604 billion for the quarter ended July 3, up 9% year over year, with GAAP diluted EPS of $0.56 and non-GAAP diluted EPS of $0.74. Free cash flow rose to $425.4 million, while the company repurchased $332 million of shares and announced a planned acquisition of Synaptics. For the third quarter, onsemi expects revenue of $1.650 billion to $1.750 billion and non-GAAP diluted EPS of $0.81 to $0.93; it also expects AI data center revenue to more than double in 2026.