Jabil tops first-quarter estimates on data center infrastructure demand
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E-mail-Electronic components maker Jabil beat first-quarter profit and revenue estimates on Wednesday, driven by increased demand for data center infrastructure.
Shares of the company were up 10% in premarket trading.
Jabil, a key supplier to Apple, makes electronic components, including circuit board assemblies and systems for automotive, cloud services, commercial drones, trucks and buses.
The company has benefited from the surge in artificial intelligence technologies and the increased demand for AI infrastructure.
The St. Petersburg, Florida-based company reported revenue of $7 billion for the first quarter ended Nov 30, beating analysts' average estimate of $6.6 billion, according to data compiled by LSEG.
On an adjusted basis, it earned $2 per share for the reported quarter, above analysts' estimates of a profit of $1.88 per share.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Mohammed Safi Shamsi)
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