ON Semiconductor Corp. (NASDAQ: ON) reported robust third-quarter results that surpassed expectations and forecast fourth-quarter figures roughly in line with consensus, supported by steady demand tied to artificial intelligence applications.

Revenue for the September quarter totaled $1.55 billion, above analyst estimates of $1.52 billion. Non-GAAP earnings per share were $0.63, beating forecasts of $0.59.

For the fourth quarter, the chipmaker projected revenue between $1.48 billion and $1.58 billion and adjusted EPS between $0.57 and $0.67, both midpoints aligning closely with Wall Street expectations of $1.53 billion in revenue and $0.62 in earnings per share.

CEO Hassane El-Khoury said results outperformed projections amid stabilization across core markets and positive growth trends in AI-related demand. He noted the company continued expanding its portfolio of energy-efficient products for automotive, industrial, and AI applications.