ON SEMICONDUCTOR CORP [ON] has reported a net loss of $2.2 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $8.3 billion
Based in Scottsdale, Arizona, ON SEMICONDUCTOR CORP operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, ON Semiconductor Corporation reported revenues of $8.253 billion, slightly lower than the $8.326 billion recorded in the previous year, 2022, but higher than the $6.740 billion achieved in 2021.
The cost of revenue for the same period was $4.370 billion in 2023, up from $4.249 billion in 2022 and $4.026 billion in 2021. This resulted in a gross profit of $3.884 billion in 2023, compared to $4.077 billion in 2022 and $2.714 billion in 2021.
Operating income for the company stood at $2.539 billion in 2023, showing an increase from $2.360 billion in 2022 and $1.288 billion in 2021. The rise in operating income reflects improved operational efficiency and cost management strategies.
Net income attributable to ON Semiconductor Corporation was $2.184 billion in 2023, up from $1.902 billion in 2022 and $1.010 billion in 2021. The net income per share of common stock for basic and diluted amounts also saw an increase, with basic earnings per share at $5.07 in 2023, $4.39 in 2022, and $2.37 in 2021, and diluted earnings per share at $4.89 in 2023, $4.25 in 2022, and $2.27 in 2021.
Overall, ON Semiconductor Corporation showed strong financial performance in 2023, with increases in revenue, operating income, and net income compared to the previous periods. The company's strategic decisions and operational efficiencies have positively impacted its bottom line, leading to growth in shareholder value.
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