Jabil Raises Annual Outlook as AI Infrastructure Demand Surges

The company’s updated guidance anticipates annual revenue reaching $35 billion, a notable increase from the previous $34 billion estimate. This revision follows a strong third quarter ending May 31, where Jabil reported a profit of $275 million, or $2.59 a share, compared to $222 million during the same period last year. Adjusted earnings reached $3.16 a share, outpacing Wall Street expectations of $3.10.

Beyond the surge in AI infrastructure, Dastoor noted that segments previously facing headwinds—specifically automotive and connected living—are showing performance levels that exceed initial internal forecasts. For the upcoming quarter, the firm projects earnings between $3.80 and $4.20 a share, with revenue expected to hit as high as $10 billion, comfortably topping analyst projections of $8.97 billion.