ST. PETERSBURG, FL - Jabil reported fiscal second quarter net revenue of $6.7 billion, up 3% year-on-year excluding its divested mobility business.

Intelligent infrastructure revenue rose an 18%, offsetting decreases in regulated industries (down 8%) and connected living and digital commerce (down 13%) for the period ended Feb. 28.

The GAAP operating income was $245 million, versus $1.13 billion last year. Net income fell to $117 million from $927 million.

“I am very pleased with our strong year-to-date results, which underscore the resilience and strength of our diversified portfolio," said Mike Dastoor, CEO, Jabil. "In Q2, we exceeded our expectations due to continued strength in our capital equipment, cloud and data center infrastructure, and digital commerce end-markets. /p>

“As the geopolitical situation continues to evolve, our ability to adapt, combined with our designation as a U.S. domiciled manufacturing service provider and our significant US footprint, is becoming increasingly important for our customers. And, in my opinion, Jabil is among the best positioned companies in the world to help customers navigate these complexities."/p>

For its fiscal third quarter, Jabil expects  revenue of $6.7 billion to $7.3 billion and GAAP operating income of $282 million to $352 million.

For the year, the electronics ODM forecasts net revenue of $27.9 billion and core operating margin on a non-GAAP basis of 5.4%.

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