Jabil Circuit Cuts Year Forecast; Downbeat Over Mobility Slowdown
Jabil Circuit Inc. on Wednesday cuts its guidance for the year and projected downbeat results for the current quarter, warning of weaker demand in its mobility segment. Shares, down 1.2% over the past 12 months, fell 8% to $20.20 in after-hours trading. The electronics supplier projects third-quarter core profit of 12 cents to 18 cents a share on $4.1 billion to $4.3 billion in revenue, with diversified manufacturing services revenue projected to fall 10% from the year-ago period.