Shares of Flex Ltd. (FLEX) jumped 5.05% on Monday after the electronics manufacturing services provider reported better-than-expected fiscal second-quarter results and raised its full-year guidance, reflecting robust demand and execution across its business lines.

For the quarter ended September 27, 2024, Flex posted adjusted earnings per share of $0.64, surpassing Wall Street estimates of $0.56. Net sales increased to $6.55 billion from $6.93 billion a year earlier, but topped analysts' expectations of $6.53 billion.

The company's Q2 performance was driven by strong growth in higher-value markets and disciplined operational execution. Based on the solid results, Flex lifted its fiscal 2025 adjusted EPS forecast to the range of $2.39 to $2.51, up from its prior guidance of $2.30 to $2.50. The company now expects full-year revenues between $24.9 billion and $25.5 billion, compared to its previous outlook of $25.4 billion to $26.4 billion.

Analysts lauded Flex's upbeat results and outlook. In a note, Guotai Junan International analyst Li Muhua wrote, "Autonomous driving will turn into a key trade in the coming three months, aided by Flex's launch of its robotaxi next month... Flex's Apollo Go is expected to break even in Wuhan in 2024 and be profitable in 2025 with an increase in its fleet in the city."

Headquartered in Singapore, Flex Ltd. is a leading provider of design, engineering, manufacturing, and supply chain services to companies across various industries including automotive, communications, consumer products, and energy. With operations in over 30 countries, the company leverages its global workforce and responsible business practices to deliver innovative solutions to customers worldwide.