Key facts
- Onsemi forecasts Q3 revenue above expectations.
- Demand for AI data center chips is driving onsemi's revenue forecast.
- Emerson Electric exceeded quarterly profit and revenue expectations.
- Emerson Electric saw strong demand for its automated, software-connected test and measurement systems.
- Emerson Electric's software and systems segment revenue increased 11% in Q3.
- Emerson Electric's test and measurement sales grew 23% in Q3.
Onsemi is forecasting third-quarter revenue to surpass expectations, driven by robust demand from AI data centers. The company is experiencing strong demand for chips essential for AI infrastructure.
Separately, Emerson Electric posted third-quarter profit and revenue that exceeded Wall Street expectations, supported by sustained demand for industrial automation in North America and Asia. The company reported an 11% rise in revenue for its software and systems segment, with test and measurement sales jumping 23%. However, sales in Europe declined by 1% year-over-year during the quarter. Emerson Electric's adjusted profit for the quarter was $1.71 per share, beating analyst estimates, and total revenue reached $4.87 billion, a 7% increase from the previous year.