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Jabil tops first-quarter estimates on data center infrastructure demand
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Jabil tops first-quarter estimates on data center infrastructure demand
Dec 18, 2024 5:47 AM

Dec 18 - Electronic components maker Jabil ( JBL ) 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 ( JBL ), a key supplier to Apple ( AAPL ), 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.

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