SINGAPORE (AP) _ Flex Ltd. (FLEX) on Wednesday reported fiscal first-quarter profit of $189 million.
The Singapore-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 54 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The electronics designer and manufacturer posted revenue of $7.35 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $6.8 billion.
For the current quarter ending in October, Flex expects its per-share earnings to range from 48 cents to 54 cents.
The company said it expects revenue in the range of $7 billion to $7.4 billion for the fiscal second quarter.
Flex expects full-year earnings in the range of $2.09 to $2.24 per share, with revenue ranging from $28.4 billion to $29.4 billion.
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
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