ON Semiconductor (ON.US) Q3 results and Q4 guidance both exceed expectations; AI data center revenue target for 2030 raised to over $3 billion.

Zhihu Finance APP reported that ON Semiconductor (ON.US) released its financial results for the third quarter of 2026 after the US stock market closed on Monday, November 2. According to the financial report, ON Semiconductor's Q3 revenue increased by 11% year-on-year to $1.722 billion, surpassing the average analyst expectation of around $1.7 billion. Adjusted earnings per share were $0.90, up 43% year-on-year and higher than the analyst consensus of $0.88. GAAP gross margin was 41.4%, an increase of 3.5 percentage points year-on-year; non-GAAP gross margin was 41.2%, up 190 basis points quarter-on-quarter, marking the fifth consecutive quarter of expansion; non-GAAP operating margin reached 23.2%.