April 30 – Contract electronics manufacturer Flextronics International Ltd reported better-than-expected fourth-quarter revenue and adjusted profit on Wednesday, helped by higher demand from its game console and smartphone customers.
The company, which makes the Xbox game console for Microsoft Corp and smartphones for Google Inc, also forecast a higher profit for the current quarter, helping to push up its shares about 3 percent in extended trading.
Uncertainly surrounds its links to Google, however, after the search giant agreed to sell its Motorola handset division to China’s Lenovo Group Ltd for $2.91 billion in January.
Excluding items, the company earned 24 cents per share, beating the average analyst estimate of 20 cents per share.
Flextronics shares rose to $9.30 in extended trading after closing at $8.99 on the Nasdaq. The stock has risen about 17 percent in the past three months. (Reuters)