NETGEAR® Reports Second Quarter 2021 Results
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July 22, 2021 8:54 AM EDT
BWS Financial analyst Hamed Khorsand lowered the price target on NETGEAR (NASDAQ: NTGR) to $43.00 (from $54.00) while maintaining a Buy rating.
The analyst commented, "It seems NTGR's channel partners were expecting a strong finish to the quarter and stocked too much... More
July 21, 2021 4:08 PM EDT
Netgear, Inc. (NASDAQ: NTGR) reported Q2 EPS of $0.66, $0.05 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $390 million versus the consensus estimate of $314.84 million.
Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, Second quarter revenue came in at $308.8 million, representing 10.3% topline growth year over year. Worldwide supply chain constraints, however, such as component shortages, increased freight costs and transit times, and factory closures due to COVID-19, led to a perfect storm of factors that held back our revenue number and saw us fall short of our... More
