AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Flex Ltd. (FLEX) on Wednesday reported fiscal first-quarter earnings of $285 million.
The Austin, Texas-based company said it had net income of 76 cents per share. Earnings, adjusted for one-time gains and costs, came to $1 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The electronics designer and manufacturer posted revenue of $7.93 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $7.58 billion.
For the current quarter ending in September, Flex expects its per-share earnings to range from $1 to $1.07.
The company said it expects revenue in the range of $7.95 billion to $8.25 billion for the fiscal second quarter.
Flex expects full-year earnings in the range of $4.42 to $4.74 per share, with revenue ranging from $33.7 billion to $35.2 billion.
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