(Reuters) – Electronic component maker Jabil on Thursday raised its 2025 profit and revenue forecast, after beating Wall Street estimates for second-quarter results, helped by strong demand for data center infrastructure.
Shares of the company rose 6.5% in premarket trading following the results.
The rush to develop and adopt artificial intelligence has strengthened the global appetite for data centers, in turn benefiting companies such as Jabil.
The rise in demand for AI has also spurred sales of the company’s semiconductor fabrication and test equipment.
On an adjusted basis, Jabil posted second-quarter earnings of $1.94 per share, above analysts’ average estimate of $1.83 per share, according to data compiled by LSEG.
It now expects a full-year adjusted profit of $8.95 per share, compared with $8.75 per share expected previously. It raised the full-year revenue forecast to $27.9 billion from $27.3 billion.
The St. Petersburg, Florida-based company reported quarterly revenue of $6.73 billion for the quarter ended February 28, compared to estimates of $6.41 billion.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Leroy Leo and Shreya Biswas)
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