Electronics firm Jabil forecasts upbeat annual results on booming data center demand

Reuters12-17

Electronics firm Jabil forecasts upbeat annual results on booming data center demand

Dec 17 (Reuters) - Jabil JBL.N forecast annual revenue and profit above Wall Street estimates on Wednesday, as the electronic component maker looks to capitalize on artificial intelligence-driven demand for data centers, sending its shares up more than 5.8% in premarket trade.

It expects full-year 2026 revenues of $32.4 billion, above analysts' average expectations of $31.52 billion, according to data compiled by LSEG.

On an adjusted basis, it expects annual profit per share of $11.55, versus expectations of $11.11.

Rising investments in data center infrastructure, driven by strong demand for computing capacity to support AI technologies, have aided companies like Jabil.

The company, which supplies electronic components to Apple AAPL.O, also surpassed Street expectations for its first-quarter results.

First-quarter revenue rose 18.74% to $8.30 billion, surpassing estimates of $8.09 billion, as per data compiled by LSEG.

Adjusted profit per share for the quarter ended November 30 was $2.85, while analysts expected $2.70.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by Sahal Muhammed)

((Anshuman.Tripathy@thomsonreuters.com;))

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