ST. PETERSBURG, FL – Jabil announced revenue of $7 billion for the first quarter of its fiscal year, down 16.7% from the same quarter last year.

Looking ahead, the company projects revenue of $6.1 billion to $6.7 billion for the second quarter, and $27.3 billion for its full financial year.

"I am very pleased with our first fiscal quarter results, which came in stronger than we anticipated driven by incremental strength in our Cloud, Data Center Infrastructure, and Digital Commerce end-markets. As a result, the team was able to deliver strong Core EPS and cash flow generation during the quarter," said CEO Mike Dastoor. "We now anticipate approximately $27.3 billion in net revenue, with core operating margins of 5.4%. Core earnings per share now are expected to be $8.75. Importantly, for the year we continue to foresee robust adjusted free cash flow generation of $1.2 billion."