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flag Onsemi exceeded Q4 revenue and profit estimates.

flag Chipmaker Onsemi surpassed Wall Street estimates for fourth-quarter revenue and profit on Monday. flag The company's shares increased by around 9% in early trade. flag The robust results demonstrate that demand for Onsemi's silicon carbide chips remains strong despite reduced consumer spending due to high interest rates. flag However, the company forecasted first-quarter revenue and profit below analysts' expectations, raising concerns about the future of the electric vehicle market. flag Onsemi supplies chips that are used in electric vehicles' drive trains and driver-assistance systems like cameras and sensors.

15 months ago
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