Jabil shares jumped $1.36 to $23.59 on the Nasdaq Stock Exchange following after-market gains of more than 10% on Tuesday after the electronics maker reported fiscal first-quarter net income of $123.6 billion, or 76 cents a share, vs. $63.8 million, or 35 cents, a year earlier.
Adjusted for items such as stock-based compensation, earnings were 90 cents a share. Revenue rose to $6.51 billion from $5.59 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 88 cents a share on revenue of $6.1 billion.
Electronic manufacturing services accounted for more than half of the company's total quarterly earnings, while diversified manufacturing services accounted for the remaining 46%, the company said.
Jabil also said it expects adjusted fiscal second-quarter earnings of 51 cents to 71 cents a share on sales of $5.8 billion to $6.4 billion.
The company's shares have fallen 15% this year after peaking at $31.37 a share in March.
"Jabil" derives from the first names of James Golden and William (Bill) E. Morean, who founded the company in 1966. Jabil was formally incorporated in Detroit in 1969. The company makes parts, accessories and other components for computers, laptops, gaming devices and other electronics.