(onsemi) On Semiconductor Corp. earned a record $1.945 billion revenue in the first quarter of 2022, up 31% from the prior year.
The company said that it delivered a record 49.4% gross margin, an increase of 1,420 basis points from the prior year. The operating margin also hit a record 33.3%, up by 730 basis points from the previous quarter.
The company had a GAAP diluted EPS OF $1.18, compared to just $0.20 in the comparable quarter of last year.
onsemi had a record non-GAAP diluted earnings per share of $1.22, an increase from $0.35 in the prior year.
Following a robust quarter, onsemi’s net income reached $531 million, up from $426 million in the prior quarter and $90.3 million in the previous year.
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