Jabil Moving Up On Top and Bottom Line Beats

Jabil JBL announced results of its third quarter Wednesday afternoon.

Revenue toppled the analyst estimate by 5.28 percent at $3.79 billion versus $3.6 billion. Manufacturing brought in $1.6 billion, enterprise & infrastructure contributed $1.3 billion and high velocity systems added revenue of $0.9 billion. Despite beating analyst estimates, sales are down 18.7 percent year over year.

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Earnings were also stronger than expected at a $0.06 loss per share versus a $0.09 loss. This is a significant decrease from $0.56 gain for the same quarter last year.

Looking forward, revenue is expected between $3.7 billion and $3.9 billion. This was expected; the analyst consensus is $3.78 billion. Jabil gave a massive earnings range: a $0.10 loss to a $0.10 gain per share. Full year guidance was maintained at $1.65 to $1.95.

Shares of Jabil are up 1.99 percent in extended hours trading to $20.50