Electronics firm Jabil raises annual forecasts on data center demand

March 18 (Reuters) - Electronic ‌component maker ​Jabil ​raised its full-year profit and revenue forecasts on Wednesday, betting on strong demand for infrastructure ‌services from AI data centers.

Shares of the St. ⁠Petersburg, Florida-based company were up 1.1% in premarket trading, after ‌it surpassed Wall Street ‌expectations for second-quarter results.

A surge in spending for data-center infrastructure, driven by robust demand for computing power ​to support AI technologies, has benefited companies such as Jabil.

Jabil CEO Mike Dastoor said results were ⁠fueled by "continued momentum in intelligent infrastructure, where demand remains robust across cloud ​and data center infrastructure, networking and communications, and capital equipment".

He added regulated industries also improved, ​as automotive and renewables outperformed ‌expectations.

The manufacturer, which makes components for Apple, also provides design, production and management solutions ⁠to various industrial sectors including technology, automotive, transportation, healthcare, storage and packaging.

The company now expects fiscal 2026 revenue of $34 ⁠billion, compared with its earlier forecast of $32.4 billion. It also ​raised its forecast for adjusted earnings per share to $12.25 from $11.55 earlier.

Analysts on average expect annual revenue of $32.71 billion and adjusted profit ‌per share of $11.67, according to data compiled by LSEG.

On an adjusted basis, Jabil ‌posted second-quarter profit per share of $2.69, above analysts' expectations ⁠of $2.51.

Second-quarter revenue rose 23% ‌year-on-year to $8.28 billion, ​beating Wall Street estimates of $7.74 billion.

(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Diti ‌Pujara)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Baird on Nurix (NRIX) Earnings Amid 7% Drop: '2Q Print Solid as Breadth of Development Expands'
• Occidental Petroleum releases Q2 2026 earnings considerations
• Delta Air shares slip despite strong outlook, Melius says