NETGEAR (NTGR) Shares Down 11% on Lowered Q1 Guidance
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NETGEAR® Provides Preliminary First Quarter Financial Results
April 18, 2022 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- NETGEAR, Inc. (NASDAQ: NTGR) today reported certain preliminary financial results for its first fiscal quarter ended April 3, 2022. NETGEAR will announce full results for the first quarter on April 27, 2022.
NETGEAR currently expects net revenue for the first quarter of 2022 to be between $202 million and $212 million, compared to prior guidance of $225 million to $240 million for the first quarter of 2022. The U.S. consumer WiFi market, which had exited 2021 at approximately 15% above 2019 levels, declined in the first quarter of 2022, ending roughly flat to 2019 levels. The decline in market... More
