Nov 6 (Reuters) - Johnson Controls International ( JCI )
forecast first-quarter profit above Wall Street estimates on
Wednesday, banking on sustained demand for building and
industrial equipment from data centers.
The global demand for data centers has remained resilient as
more businesses integrate artificial intelligence into their
offerings, benefiting companies such as Johnson Controls ( JCI ).
Shares of the company were up about 1% before the bell.
The Cork, Ireland-based company expects adjusted earnings
per share to be in the range of 57 cents to 60 cents in the
quarter ending Dec. 31. Analysts on average were expecting
earnings per share of 56 cents.
It reported revenue of $7.4 billion, up 7% from a year
earlier and above analysts' average estimate of $7.18 billion,
for the fourth quarter ended Sept. 30, according to data
compiled by LSEG.
The company reported fourth-quarter adjusted profit of $1.28
per share, in line with analysts' expectations.