Jacobs beats quarterly profit estimates on strong infrastructure demand

Aug. 4 (Reuters) - Engineering services provider Jacobs Solutions on Tuesday beat Wall Street estimates for third-quarter profit, helped by strong demand for its data-center infrastructure services.

Demand for data-center infrastructure has surged as more companies adopt AI, benefiting firms such as Jacobs, which provides planning, engineering and construction-management services.

• "As spending on the AI build-out has ramped up, we have been able to...help deliver increasingly complex manufacturing and compute facilities," CFO Venk Nathamuni said.
• Jacobs' operating profit in its infrastructure and advanced facilities segment grew 13.6% to $268 million in the third quarter from a year ago.
• The Dallas, Texas-based company's adjusted profit rose to $1.84 per share in the quarter ended June, up from $1.62 a year ago.
• Analysts on average expected quarterly profit of $1.83 per share.
• Jacobs' third-quarter revenue rose 34.5% to $4.08 billion, compared with $3.03 billion a year earlier.