Penguin Solutions, Inc. (NASDAQ:PENG) reported its first-quarter financial results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Penguin Solutions reported quarterly earnings of 49 cents per share, which beat the analyst consensus estimate of 39 cents. Quarterly revenue came in at $341.1 million, beating the analyst consensus estimate of $320.75 million and representing an increase over sales of $274.25 million from the same period last year.
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“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,” said Mark Adams, CEO of Penguin Solutions.
“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. Based on our positive start to the year, we are pleased to affirm our outlook for the full fiscal year,” concluded Adams.
Outlook: Penguin Solutions affirmed its fiscal 2025 outlook of earnings of between $1.30 and $1.70 per share and net sales growth of 15% year-over-year, plus or minus 5%.
PENG Price Action: According to data from Benzinga Pro, Penguin Solutions shares are up 14.48% after hours at $21.50 Wednesday.
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Photo: Courtesy of Penguin Solutions, Inc.
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