Shares of Penguin Solutions, Inc. (PENG) surged 5.36% in after-hours trading on Wednesday, following the release of the company's second-quarter fiscal 2025 financial results that exceeded analyst expectations.
The technology solutions provider reported quarterly earnings of $0.52 per share on a non-GAAP basis, significantly beating the analyst consensus estimate of $0.38 by 36.84%. This represents a 92.59% increase from earnings of $0.27 per share in the same period last year. Penguin Solutions also posted strong revenue growth, with quarterly sales reaching $365.52 million, surpassing the analyst consensus estimate of $344.97 million by 5.96%. The reported revenue marks a 28.33% increase compared to $284.82 million in the year-ago quarter.
Adding to investor optimism, Penguin Solutions raised its revenue outlook for the full fiscal year 2025. The company now expects net sales growth of 17% year-over-year, plus or minus 3%, up from its previous guidance. "We are pleased with the progress we are making in fiscal year 2025," said Mark Adams, Chief Executive Officer of Penguin Solutions. "Our results reinforce our capabilities in managing the complexity of AI for our valued customers. Given our strong start to the fiscal year, we are raising the midpoint of our revenue outlook for the full year."
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