Jabil forecasts full-year results above estimates on AI data center demand

Sept 30 (Reuters) – Jabil forecast profit and revenue for the fiscal year 2027 above Wall Street estimates on Wednesday, as the electronics component maker banks on demand from AI data centers.

Rising investments in data center infrastructure, driven by strong demand for computing capacity to support AI technologies, have benefited electronics companies such as Jabil.

• CEO Mike Dastoor said Jabil’s fiscal 2027 outlook was driven by strong AI demand and growth across sectors including automotive, healthcare, energy infrastructure, defense and aerospace, and warehouse and retail automation

• Jabil makes servers, networking gear and other hardware supporting artificial intelligence workloads

• It expects full-year 2027 revenues of $44.5 billion, above analysts’ average expectations of $42.79 billion, according to data compiled by LSEG

• The company expects annual adjusted earnings per share of $17.55, above analysts estimates of $16.87

• The manufacturer, which makes components for Apple, posted fourth-quarter adjusted profit per share of $4.40, above analysts’ expectations of $4.07

• Fourth-quarter revenue rose 28.6% to $10.62 billion, beating Wall Street estimates of $9.71 billion

• Shares of the St. Petersburg, Florida-based company were down 2% in premarket trading following the results

(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Sahal Muhammed)

Brought to you by www.srnnews.com

Click here to read the full article