iPhone parts supplier Jabil's earnings, revenue top estimates
(Adds financial forecast, background on shares since iPhone rollout, details about business)
March 15 (Reuters) - Jabil Inc, which makes casings for Apple Inc's iPhones, reported quarterly profit and revenue ahead of analysts' estimates, led by strong growth in its diversified manufacturing services business.
Jabil's shares rose 2.5 percent to $29.20 in after-hours trading on Thursday.
Revenue from Jabil's diversified manufacturing services business, which includes components supplied to Apple, rose 38 percent in the second quarter ended Feb. 28. Revenue from electronics manufacturing services rose 7 percent.
St. Petersburg, Florida-based Jabil gets roughly a quarter of its total revenue from Apple. Its other biggest customers include action-camera maker GoPro Inc and network gear maker Cisco.
Jabil's shares dipped in the wake of reports that Apple was selling fewer iPhones than expected in the crucial holiday shopping season. The stock has tumbled nearly 10 percent since the release of the latest iPhones in September.
Jabil expects current-quarter revenue of $4.75 billion to $5.05 billion and adjusted earnings of 35 to 55 cents per share. Analysts on average were expecting revenue of $4.80 billion and profit of 44 cents per share, according to Thomson Reuters I/B/E/S.
Net income attributable to Jabil rose to $37.3 million in the second quarter, from $20.7 million, a year earlier. Excluding one-time items, the company earned 66 cents per share, topping analysts' average estimate of 62 cents.
Revenue rose 19.2 percent to $5.30 billion, ahead of analysts' expectations of $4.90 billion. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)
