Netgear Inc (NTGR) said after close Wednesday that it earned $0.09 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $188.7 million, beating estimates by $3.5 million.
In the same quarter a year ago, the company lost $0.03 per share on revenue of $249.1 million.
The stock is down 10.27% to $12.85 after the report.
Netgear Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 53. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Netgear Inc is a provider of networking solutions. The reportable segments of the company are connected home, and Small and Medium Business (SMB). The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use 4G/5G mobile, Wi-Fi internet networking solutions and smart devices such as Orbi Voice smart speakers and Meural digital canvas; and SMB focused on small and medium-sized businesses and consists of business networking, storage, wireless LAN and security solutions that bring enterprise-class functionality to small and medium-sized businesses at an affordable price.
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Netgear Inc Down 10.27% To $12.85 After Earnings Beat
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