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Flex: Fiscal 2Q Earnings Snapshot

·1 min read

SINGAPORE (AP) _ Flex Ltd. (FLEX) on Thursday reported fiscal second-quarter net income of $113 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Singapore-based company said it had profit of 22 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 36 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The electronics designer and manufacturer posted revenue of $5.99 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $5.55 billion.

For the current quarter ending in January, Flex expects its per-share earnings to range from 34 cents to 40 cents.

The company said it expects revenue in the range of $6 billion to $6.4 billion for the fiscal third quarter.

Flex shares have risen 8.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.69, a rise of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLEX at https://www.zacks.com/ap/FLEX