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Flextronics Forecasts Strong Revenue

Contract electronics maker Flextronics International Ltd (NASDAQ:FLEX) forecast current-quarter revenue largely above Wall Street estimates and said it planned to reduce its workforce and undertake other cost cuts.Shares of Flextronics, which said its third-quarter net profit more than tripled, rose 15 percent in extended trading.The Singapore-based company said revenue in the current quarter would be helped by strong demand for game consoles and smartphones. Flextronics makes the Xbox game console for Microsoft Corp and smartphones for Google Inc.The company forecast adjusted earnings of 18-22 cents per share on revenue of $5.9-$6.3 billion for the current quarter.Analysts on average were expecting a profit of 19 cents per share on revenue of $5.97 billion, according to Thomson Reuters I/B/E/S.Microsoft last week posted a bigger-than-expected quarterly profit, boosted by a solid holiday season for its new Xbox game console.Google's Motorola division, which unveiled its Moto X phone on...

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  1. Jabil Circuit's Losses Lead Mixed Tech Action

    Tech stocks were mixed in early trading Wednesday as big losses from Jabil Circuit Inc. took the sector's spotlight. Jabil shares fell 20%, to $15.74, after the elec...

  2. Stock Futures Climb as Fed Decision Looms

    Wall Street was building up to a higher open Wednesday, as investors await housing-starts data and, more important, a decision by the Federal Reserve on whether it w...

  3. Jabil Circuit Slumps; Earnings, Outlook Disappoint

    Jabil Circuit Inc. shares fell as much as 9% in after-hours trading Tuesday after the electronics contract manufacturer reported disappointing fiscal first-quarter r...

  4. BlackBerry confirms deep loss and revenue drop

    BlackBerry Ltd reported a quarterly loss of nearly $1 billion on Friday, in line with a warning it gave last week, just days after the smartphone maker accepted its ...

  5. Jabil Earnings Rise; Shares Down On Forecast

    Jabil Circuit Inc. posted better-than-expected results for its fourth fiscal quarter on Wednesday afternoon, but the electronics manufacturer issued a disappointing ...

  6. Advocacy Group Alleges Labor Violations at Jabil China Plant

    Jabil Circuit (NYSE:JBL) was accused Thursday of several workers' rights violations at a factory in China as controversy swirls over the tech supply chain.China Labo...

  7. Market Wrap for Thursday, March 21: Stocks Give Back Wednesday's Gains

    The U.S. stock market gave back its gain from Wednesday as the ongoing bank crisis in Cyprus undermines investor confidence.The major averages in the United States t...

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