Jabil Circuit Up After Earnings Beat (JBL)

Shares of Jabil Circuit, Inc. JBL are up around 3% in after hours trading after the company reported better than expected earnings. JBL reported earnings of 61 cents per share on revenues of $4.1 billion. Wall Street expected Q1 earnings of 54 cents on revenues of $3.96 billion. Jabil Circuit also raised its forecast for Q2, saying it sees revenue of $3.85-$3.95 billion, and earnings of 49-53 cents. Wall Street expects $3.7 billion in revenue with earnings of 44 cents per share. “We believe our results for the first quarter represent an excellent start to fiscal 2011,” said Timothy L. Main, President and CEO of Jabil. “Revenue growth was accompanied by margin improvement and a passionate dedication to customer service across our business segments.”