Onsemi posts 1% growth in Q1 revenue to $1.95 bn

Onsemi has reported revenue of $1.959 billion (+1 percent) with operating margin of 28.8 percent for the first quarter of 2023.
OnSemi Q1 2023 revenueOnsemi has generated revenue of $1,012.8 million (+3 percent) from Intelligent Sensing Group; $592.8 million (–14 percent) from Advanced Solutions Group; and $354.1 million (+32 percent) from the Power Solutions Group in Q1 2023.

Onsemi has generated 50 percent of its revenue from Automotive and 28 percent from Industrial during the first quarter of 2023.

Onsemi said Automotive revenue grew 38 percent to record 50 percent of total revenue. Automotive and industrial end-markets together represented record 79 percent of revenue.

“Our accelerating Silicon Carbide manufacturing output exceeded our internal plans and enabled us to nearly double our silicon carbide revenue quarter-over-quarter, and we grew both ADAS and energy infrastructure revenue by approximately 50 percent,” said Hassane El-Khoury, President and CEO of Onsemi, said in its earnings report.

Onsemi is aiming to achieve second-quarter revenue of $1.975 billion to $2.075 billion with gross margin of 45.4 percent to 47.4 percent.