Why Jabil Shares Are Soaring Today
Shares of Jabil (NYSE: JBL) surged on Thursday, following a robust earnings report early in the morning. The advanced manufacturing services company's stock jumped as much as 10.5% higher in early trading before settling down to a milder 6.5% gain as of 12:20 p.m., EST.
Jabil's net revenue rose 4.4% year over year in the first quarter of fiscal year 2021, landing at $7.8 billion. Adjusted earnings increased by 52% to $1.60 per diluted share. Your average analyst would have settled for earnings of roughly $1.27 per share on top-line sales near $7 billion. Management's earnings guidance for this period pointed to earnings in the neighborhood of $1.25 per share on revenue of roughly $7 billion.
Management also presented guidance for the next quarter and the full fiscal year, well ahead of analyst consensus targets across the board.
Source Fool.com
