Flex (FLEX) Q3 Earnings & Revenues Beat Estimates, Shares Up
Zacks Investment Research | Jan 31, 2019 08:35PM ET
Shares of Flex Ltd. (NASDAQ:FLEX) were up more than 4% yesterday, following the company's encouraging third-quarter fiscal 2019 results. Flex delivered third-quarter 2018 non-GAAP earnings of 34 cents per share, which beat the Zacks Consensus Estimate by 4 cents and improved 9.7% from the year-ago quarter.
Revenues increased 3% from the year-ago quarter to $6.945 billion and comfortably surpassed the Zacks Consensus Estimate of $6.779 billion.
Robust performance across edge and hyperscale computing end markets drove year-over-year revenue growth. The top line also benefited from new bookings from medical group.
Flex concluded wind down of NIKE (NYSE:NKE) venture based out of Mexico.
Markedly, the company’s stock has lost 45.9% in the past year, compared with the Original post
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