131800489
Economic Times
Jabil raised its 2026 profit forecast on Wednesday, as the electronic-component maker looks to capitalize on AI-led demand for data centers.A surge in data-center infrastructure spending, driven by strong demand for AI computing power, has benefited companies
Jabil raised its 2026 profit forecast on Wednesday, as the electronic-component maker looks to capitalize on AI-led demand for data centers.A surge in data-center infrastructure spending, driven by strong demand for AI computing power, has benefited companies such as Jabil."AI infrastructure demand remains extremely strong," said CEO Mike Dastoor, adding the company continued to see better-than-expected performance particularly in its automotive and connected living segment that had earlier been under pressure.The manufacturer, which makes components for Apple, also provides design, production and management solutions to various industrial end markets including technology, automotive, transportation, healthcare, storage and packaging.Shares of the St. Petersburg, Florida-based company rose 1% in premarket trading.The company expects fiscal 2026 adjusted profit per share to be $12.70, compared with its previous forecast of $12.25. It also raised its annual revenue forecast to $35 billion from $34 billion earlier.Analysts on average expect annual revenue of $34.2 billion and adjusted profit per share of about $12.4, according to data compiled by LSEG.Jabil posted third-quarter adjusted profit per share of $3.16, compared to analysts' expectations of $3.10.Third-quarter revenue rose 11.8% to $8.75 billion, beating Wall Street estimates of $8.6 billion.