JBL - Why Jabil Stock Fell 10% on Thursday
Jabil (NYSE: JBL) shareholders lost ground to a falling market on Thursday. The stock had fallen by 10% by 3 p.m. compared to a 3.4% slump in the S&P 500 . The decline put the electronics manufacturing specialist back below the market so far in 2022, although its 25% drop since early January is close to the S&P's 23% drop.
Thursday's slump was sparked by an earnings update that failed to excite investors.
Jabil said before the market opened that revenue improved to $8.3 billion for the fiscal third quarter of 2022, which ended in late May. That boost translated into a 26% increase, which was slightly higher than most investors were expecting.
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Why Jabil Stock Fell 10% on Thursday