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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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