Penguin Solutions just delivered a quarter that makes the word "beat" feel like an understatement. The AI factory platform company reported fiscal third-quarter results Tuesday after the close, and they were good enough to send shares up more than 8% in after-hours trading.

Revenue came in at $478.71 million, crushing the analyst consensus of $405.53 million. That's a 48% jump from the same quarter last year. Adjusted earnings were $0.84 per share, well above the $0.54 analysts were expecting.

CEO Kash Shaikh summed it up neatly: "Penguin Solutions delivered a record quarter, exceeding expectations for both net sales and EPS. This profitable growth acceleration reinforces our confidence that our AI Factory Platform strategy is working."

The company's Integrated Memory business more than doubled year over year, and its AI Infrastructure segment kept building momentum. Shaikh credited "very strong agentic AI-driven customer demand" for the outperformance.

That demand is so strong that Penguin raised its full-year outlook for the second time. The company now expects fiscal 2026 revenue growth of 22%, plus or minus 2%, up from its prior forecast of about 12% growth. It also guided for full-year adjusted earnings of $2.60 per share, plus or minus 5 cents.

Management will discuss the quarter in more detail on an earnings call at 4:30 p.m. ET. But for now, investors seem happy: Penguin Solutions (PENG) shares were up 8.53% in after-hours trading at $68.06.