Flextronics Shares Jump After Hours On Strong FY Q2 Results

Flextronics (FLEX) shares are trading sharply higher after hours on better-than-expected results for the fiscal second quarter ended October 1.

For the quarter, FLEX posted revenue of $7.4 billion and adjusted profits of 23 cents a share, ahead of the Street consensus at $7.01 billion and 20 cents.

For FY Q3, the contract electronics manufacturer sees revenue of $7.5 billion to $7.7 billion, and adjusted EPS of 23-25 cents a share; the Street has been projecting $7.44 billion and 22 cents.

The company also noted that it bought back $195 million of stock in the quarter.

FLEX in late trading is up 71 cents, or 11.1%, to $7.11.