Shares of Jabil Inc. dropped more than 12% in the after-hours session Tuesday after the maker of electronics components and other materials lowered its quarterly and fiscal 2024 revenue outlook, saying demand for its products and services has softened.
Jabil JBL said it expects fiscal 2024 revenue of about $31 billion, down 7% from the midpoint of its previous guidance. Analysts polled by FactSet expect yearly revenue of $33.9 billion for the company.
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