Here's Why Penguin Solutions Stock Is Flying Today
Shares of AI data center infrastructure specialist Penguin Solutions (NASDAQ:PENG) are well up today following Wednesday evening's post-close release of the company's fiscal Q2 results. While revenue and operating income both fell year over year, each also topped analysts' expectations. Unexpectedly solid guidance for the full fiscal year, however, is seemingly responsible for the bulk of today's jump.
For the three months ending in February, Penguin turned revenue of $343 million into a per-share non-GAAP profit of $0.52. Sales fell 6% year over year, and income was essentially flat. But, analysts were only calling for a top line of $339 million and earnings of $0.42 per share. The company's advanced computing arm's sales fell more than its integrated memory business expanded during the quarter.
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Source Fool.com
