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Sept. 24, 2020, 8:18 a.m. EDT

Jabil profit and revenue top analyst forecasts

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By Matt Grossman

Jabil Inc. logged better-than-expected sales and profit figures for the latest fiscal quarter as sales rose across the company's two major divisions.

The St. Petersburg, Fla.-based manufacturing company posted a fourth-quarter profit of $67.7 million, or 44 cents a share, compared with a profit of $52.7 million, or 34 cents a share, in the same three-month period a year earlier.

On an adjusted basis, Jabil's profit was 98 cents a share, the company said. Analysts polled by FactSet had forecast an adjusted profit of 66 cents a share.

Jabil's revenue was $7.3 billion, up from $6.57 billion in the year-earlier period. Analysts had forecast revenue of $6.29 billion.

Revenue from the company's diversified-manufacturing branch was up 17% year over year, while revenue from its electronics-manufacturing operations climbed 8%. Chief Financial Officer Michael Dastoor called out the company's mobility, health-care and cloud businesses for strong momentum at the end of the 2020 fiscal year.

Write to Matt Grossman at matt.grossman@wsj.com

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