Penguin Solutions Gains Some 15% After Hours on Fiscal Q1 Earnings and Revenue Beats

PENG gained 14.2% to $21.85 shortly before 4:45 p.m. ET after reporting $0.49 in adjusted earnings per share on $341.1 million in revenues for the three months ended Nov. 29. That beat the $0.39 of adjusted EPS and $320 million of revenues that analysts had reportedly forecast.

Penguin also reaffirmed its previous outlook of $1.30-$1.70 in EPS for the fiscal year as a whole, along with net sales growth of 15% plus or minus 5%.

"Our strong performance this quarter, highlighted by a 49% year-over-year increase in advanced-computing revenue, reflects the continued execution of our strategy to support customers navigating the complexities of AI infrastructure implementation," CEO Mark Adams said in announcing the latest numbers.

"Our approach as a provider of differentiated hardware, software and managed services enables us to serve as a trusted advisor for our large enterprise customers," Adams said. "Based on our positive start to the year, we are pleased to affirm our outlook for the full fiscal year."

Penguin provides businesses with advanced-computing, integrated-memory and optimized light-emitting-diode solutions.