Jabil Q3 2025: Intelligent Infrastructure Fuels 15.7% Revenue Growth

Let's take a look inside Jabil's latest quarterly report. The global manufacturing services giant recently filed its Form 10-Q for the quarter ending May 31, 2025, and the numbers reveal a story of significant growth and shifting business dynamics. By examining the income statement, we can see exactly where Jabil's money came from and where it went.

A Surge in Revenue and Profit

Jabil reported a strong quarter, with total revenue reaching $7.8 billion, a healthy 15.7% increase from the $6.8 billion recorded in the same period last year. This growth wasn't just on the top line. Operating income saw a substantial jump to $403 million, up from $261 million a year ago, showcasing improved operational efficiency.

Ultimately, this translated to a robust bottom line. Net income attributable to Jabil was $222 million, or $2.03 per diluted share, a significant improvement over last year's $129 million, or $1.06 per share.

To better understand how Jabil converted its revenue into profit, this flow chart breaks down the major sources of income and expenses for the quarter.

As the chart illustrates, after accounting for the cost of revenue ($7.1 billion), Jabil was left with a gross profit of $681 million. Various operating expenses, including a notable $45 million gain from the divestiture of certain businesses, were then subtracted to arrive at the operating income.

A Tale of Three Segments

Jabil's performance is best understood by looking at its business segments. The clear star of the quarter was the Intelligent Infrastructure division, which serves industries like cloud computing, 5G, and networking.

• Intelligent Infrastructure: Revenue soared to $3.4 billion from $2.3 billion last year. More importantly, its operating income grew to $181 million from $121 million.
• Regulated Industries: This segment, which includes healthcare and automotive, remained stable with revenue of $3.1 billion, roughly flat year-over-year. Its operating income saw a slight dip to $168 million from $183 million.
• Connected Living and Digital Commerce: Revenue in this segment, which covers consumer electronics and retail solutions, declined slightly to $1.3 billion from $1.4 billion. However, it demonstrated improved profitability, with operating income increasing to $71 million from $46 million.

The company reports "segment income," a measure of core operating profitability for each division. These figures don't include corporate-level expenses like amortization or certain restructuring charges. When these unallocated items are accounted for, the total segment income of $420 million reconciles to the company's overall GAAP operating income of $403 million.

Looking Forward

Overall, Jabil's Q3 2025 report points to a company successfully navigating a dynamic market. The outstanding growth in its Intelligent Infrastructure segment more than compensated for softer performance elsewhere, driving strong overall revenue and profit growth. For a more detailed breakdown, you can explore the full 10-Q filing on the SEC's website.