You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: To follow along with the slides, please visit jabil.com within our investor relations section.
At the conclusion of today's call, the entirety of today's session will be posted for audio playback on our website.
These statements are based on current expectations, forecasts, and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially.
An extensive list of these risks and uncertainties are identified in our annual report on Form 10-K for the fiscal year ended August 31st, 2021, and other filings.
I appreciate everyone taking time to join our call today.
To begin with, our hearts go out to everyone impacted by the war in Ukraine.
When I think about our team, along with their families, what comes to mind are words like admiration, courage, and heart.
Please know, we're in constant communication with those on the ground, and we continue to provide resources and financial assistance, as the safety and security of those in Ukraine is our top priority.
At Jabil, we're one corporate family with people located all over the world.
And despite the physical distance between us, we'll always face difficult situations together.
Q2 was another strong quarter, both top line and bottom line, driven by double-digit revenue growth year on year and exceptional execution, respectively.
Altogether, the team delivered core earnings per share of $1.68 and revenue of $7.6 billion, resulting in a core operating margin of 4.6%, a 40 basis point increase year on year.
All in all, I'm pleased with the quarter, as our performance during the first half of the year gives us positive momentum as we push toward the back half of fiscal '22 and into fiscal '23.
And when I think about a key catalyst driving our momentum, what comes to mind is the makeup of our commercial portfolio, which I'll now address on the next slide.
Slide 7 is a wonderful picture, which shows the construct of our portfolio today.
Jabil's large-scale diversification serves as a solid foundation from which we run our business.
The team has built this foundation over the past five to six years, as we target new end markets and optimize our legacy business.
The output of this effort is twofold: one, a higher level of resiliency across the company; and two, a substantial presence in secular end markets, markets that include 5G, electric vehicles, personalized healthcare, cloud computing, and clean energy.
If we dissect the pie chart a bit differently with an emphasis on financial contribution and economic relevance, we see a terrific blend of reliable margins and sustainable cash flows, again, a real tribute to the diversified nature of our business today.
Lastly, if we look at a third dimension of our portfolio, we find a library of essential capabilities, capabilities that allow us to simplify the complex for many of the world's most notable brands.
And when done correctly, our unique set of capabilities offer Jabil a real competitive advantage, as we lean into a massive market where things need to be built and supply chains need to be developed or modified.
Moving on to Slide 8.
You'll see management's outlook for the year.
We've increased core earnings per share to $7.25, an increase of nearly 30% year on year.
As for revenue, FY '22 now looks to be in the range of $32.6 billion, up more than 10% year on year.
In addition, we remain committed to delivering a minimum of $700 million in free cash flow for the year, while increasing core operating margin to 4.6%, a 40 basis point improvement year on year.
For me, this is a positive testament on how the team is managing the business as our strategy has been consistent, and what needs to be done is well understood throughout our company.
With that, let's move to my final slide, where I'd like to start with the importance of our purpose.
At Jabil, with purpose comes expectations, expectations around certain behaviors, behaviors such as keeping our people safe; servant leadership; protecting the environment; giving back to our communities; and offering a workplace, which encompasses tolerance, respect and acceptance.
Within Jabil, these behaviors have never been more important than they are today.
I'm proud of our team as they fully grasp our purpose.
And in doing so, their conduct is exceptional.
In closing, our improvement is steady commercially, financially, and operationally.
Quite simply, here at Jabil, we build stuff, and we do it really well.
One factor that makes good companies great is having a value set, a culture, if you will, that enhances the way in which they solve problems.
As a team, we embrace this as we take on the challenges put forth by our customers each and every day.
I'm really pleased with the resiliency of our diversified portfolio and the sustainable broad-based momentum underway across the business, as several of our end markets continue to benefit from long-term secular trends.
As Mark just summarized, our Q2 results were very strong.
During the quarter, revenue, core operating income, core EPS, and free cash flow all exceeded our December expectations.
Given the higher revenue, I'm particularly pleased with our ability to drive an extra 30 basis points of margin improvement compared to our expectations in December mainly through broad-based strength in several key end markets benefiting from long-term secular trends as well as outstanding execution by our business, operations, and supply chain teams.
For the quarter, revenue was approximately $7.6 billion, up 10.6% over the prior-year quarter and ahead of the midpoint of our guidance from December.
The additional upside was mainly driven by our 5G and cloud businesses, while our automotive, healthcare, and retail end markets remain very strong.
Our GAAP operating income during the quarter was $313 million, and our GAAP diluted earnings per share was $1.51.
Core operating income during the quarter was $344 million, an increase of 21% year over year, representing a core operating margin of 4.6%, up 40 basis points over the prior year.
Core diluted earnings per share was $1.68, a 32% improvement over the prior-year quarter.
Now turning to our second quarter segment results on the next slide.
Revenue for our DMS segment was $3.8 billion, an increase of 4% on a year-over-year basis.
The solid year-over-year performance in our DMS segment was broad based, with strength across our healthcare, automotive, and connected devices businesses.
Core margin for the segment came in at 5.1%.
Revenue for our EMS segment came in at $3.8 billion, an increase of 19% on a year-over-year basis.
The stronger year-over-year performance in our EMS segment was also broad based, with strength across our digital print and retail, industrial and semi-cap, and 5G wireless and cloud businesses.
Core margin for the segment was 4%, up 90 basis points over the prior year, reflecting improved mix and solid execution by the team.
Turning now to our cash flows and balance sheet.
In Q2, inventory days came in at 86 days.
The sequential increase in days was driven largely by two factors.
Firstly, the ongoing tightness in the supply chain continues to weigh on our inventory balances.
It's worth noting that we've offset a portion of these increases with inventory deposits from our customers, and these deposits reside within the accrued expenses line item on the balance sheet.
Net of these inventory deposits, inventory days was 71 in Q2.
And second, at the end of the quarter, we experienced a timing difference on the sell-through of finished goods within our DMS segment.
I anticipate this timing difference to reverse in Q3.
In spite of these two factors impacting inventory, our second quarter cash flows from operations were very robust, coming in at $246 million, and net capital expenditures totaled $201 million.
From a total debt to core EBITDA level, we exited the quarter at approximately 1.3 times and with cash balances of $1.1 billion.
During Q2, we repurchased approximately 2.3 million shares for $145 million.
And for the year, we've repurchased 4.4 million shares for $272 million, as we remain committed to returning capital to shareholders.
Turning now to our third quarter guidance on the next slide.
DMS segment revenue is expected to increase 17% on a year-over-year basis to approximately $4.2 billion, while the EMS segment revenue is expected to increase 11% on a year-over-year basis to approximately $4 billion.
We expect total company revenue in the third quarter of fiscal '22 to be in the range of $7.9 billion to $8.5 billion.
Core operating income is estimated to be in the range of $300 million to $360 million, representing a core margin range of 3.8% to 4.2%.
At the midpoint, this is an improvement of 20 basis points over the prior year and down sequentially, reflecting planned investments in our Q3 quarter.
It's also worth noting, sequentially in Q4, we expect robust core margins driven by our scaling automotive business, along with typical seasonality in our mobility and EMS businesses.
In Q3, GAAP operating income is expected to be in the range of $276 million to $336 million.
Core diluted earnings per share is estimated to be in the range of $1.40 to $1.80.
GAAP diluted earnings per share is expected to be in the range of $1.24 to $1.64.
The core tax rate in the third quarter is estimated to be approximately 21%.
Next, I'd like to take a few moments to highlight our balanced portfolio of businesses by end market.
Today, the outlook for our business is strong, with end markets across both segments continuing to benefit from multiyear secular trends.
We believe these markets will continue to drive our growth, as we concentrate our efforts on long-term secular growth markets with strong margin and cash flow dynamics, markets such as electric vehicles, personalized medicine, and healthcare, semi-cap, clean and smart energy infrastructure, cloud, 5G infrastructure, and the associated connected devices.
Our electric vehicle business, in particular, continues to outperform, in spite of global supply chain issues as the transition to EV accelerates.
We've seen this rapid acceleration manifest in top-line revenue growth in excess of 50% this year alone in our automotive end market.
We're also expecting double-digit growth from the healthcare, automotive retail, industrial and semi-cap, and 5G wireless and cloud end markets.
And importantly, the broad-based growth associated with these secular trends is expected to drive solid year-over-year core operating margin and free cash flow expansion.
All in all, our performance during the first half of the year gives us excellent momentum as we look to close out another strong year.
We're now anticipating core earnings per share will be in the neighborhood of $7.25 per share on revenue of approximately $32.6 billion.
Notably, this incremental revenue will improve mix and drive operating leverage, thereby giving us the confidence to raise our core margin by 10 basis points to 4.6% for FY '22, as we continue to drive the organization to 5% and beyond.
Importantly, for the year, we also remain committed to generating in excess of $700 million in free cash flow, in spite of the higher revenue and associated working capital.
We've been working extremely hard as a team to expand margins and drive strong cash flows.
I am very pleased with our team's exceptional execution of our strategy on all fronts.
Before we move into the Q&A portion of the call, I'd like to remind our participants that we cannot address customer-specific or product-specific questions.
Operator, we're now ready for Q&A.

user
q2 non-gaap core earnings per share $1.68.
q2 gaap earnings per share $1.51.
q2 revenue $7.6 billion.
raises financial outlook for fiscal year 2022.
now expect fy22 to deliver revenue in range of $32.6 billion and core earnings per share of approximately $7.25.
sees q3 net revenue $7.9 billion to $8.5 billion.
sees q3 u.s. gaap diluted earnings per share $1.24 to $1.64 per diluted share.
sees q3 core diluted earnings per share (non-gaap) $1.40 to $1.80 per diluted share.

assistant