NETGEAR Posts $7.25M Q2 Loss, Guides Q3 Revenue to $165–$175M
NTGR sits 25% above its 52-week low of $19 on elevated volume (1.9× avg).
Summary
NETGEAR reported Q2 revenue of $168.6M, down 1.2% year-over-year, with a GAAP net loss of $7.25M. Enterprise now makes up 53% of sales, and gross margin reached 40.2%. The company bought back $12.9M in stock and guided Q3 revenue to $165–$175M. Douglas Murray joined the board effective August 3. The loss and cash decline, noted in the recent 10-Q, continue to pressure the balance sheet despite the enterprise shift.
At the time of this announcement, NTGR was trading at $23.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $643.3M. The 52-week trading range was $19.00 to $36.86. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.