ON Semiconductor Q2 2026 revenue rose 9% year-over-year to USD 1.6 billion, beating the midpoint of guidance.
Net income attributable to shareholders swung to USD 226.8 million, or USD 0.56 per diluted share, from a loss in Q1 2026.
GAAP operating margin widened to 16.1% from -3.5% in Q1 2026; GAAP gross margin held at 38.4%.
Cash from operations climbed 150% year-over-year; free cash flow quadrupled year-over-year to USD 425.4 million, with USD 332 million of buybacks.
Business outlook and acquisition
Planned Synaptics acquisition announced; CEO Hassane El-Khoury said AI data center is the fastest-growing business, expected to more than double revenue in 2026.
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