Stock Market News

Netgear Clawing Back Losses Following Weaker Than Expected Preliminary Results

2022.04.19 18:56

Netgear Clawing Back Losses Following Weaker Than Expected Preliminary Results

By Sam Boughedda

Investing.com — NETGEAR Inc (NASDAQ:NTGR) stock fell more than 10% premarket after it reported preliminary results for the quarter that ended April 3, but it is now regaining some of its losses from earlier in the session.

After hitting a low of $20.55, Netgear stock is now trading around the $22.05 mark, or -4.7%.

The company said it expects to report 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.

The company said the US consumer WiFi market declined in the first quarter of 2022, ending roughly flat to 2019 levels, while the decline in market size negatively impacted the performance of the company’s CHP business, resulting in the decline in revenue.

Furthermore, the company was impacted by supply chain disruptions to factories in March due to the Covid-related lockdowns in Shenzhen, China. Netgear added that this resulted in a “meaningful lost opportunity to deliver higher SMB revenue in the quarter.”

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,064.52 1.36%
ethereum
Ethereum (ETH) $ 1,936.82 2.39%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.35 1.42%
bnb
BNB (BNB) $ 624.10 3.74%
solana
Solana (SOL) $ 128.88 1.21%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.720457 2.72%
dogecoin
Dogecoin (DOGE) $ 0.173858 2.84%
tron
TRON (TRX) $ 0.220097 3.38%
staked-ether
Lido Staked Ether (STETH) $ 1,934.94 2.65%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,851.47 1.16%
pi-network
Pi Network (PI) $ 1.35 3.01%
leo-token
LEO Token (LEO) $ 9.78 2.49%
chainlink
Chainlink (LINK) $ 14.12 5.06%
the-open-network
Toncoin (TON) $ 3.47 1.25%
stellar
Stellar (XLM) $ 0.274319 3.46%
usds
USDS (USDS) $ 1.00 0.02%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,317.26 2.71%
hedera-hashgraph
Hedera (HBAR) $ 0.192379 4.53%
avalanche-2
Avalanche (AVAX) $ 18.83 2.46%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.08%
sui
Sui (SUI) $ 2.34 4.52%
litecoin
Litecoin (LTC) $ 92.87 2.84%
mantra-dao
MANTRA (OM) $ 7.00 3.39%
polkadot
Polkadot (DOT) $ 4.42 2.37%
bitcoin-cash
Bitcoin Cash (BCH) $ 337.99 1.10%
ethena-usde
Ethena USDe (USDE) $ 0.999759 0.04%
weth
WETH (WETH) $ 1,934.58 2.20%
bitget-token
Bitget Token (BGB) $ 4.44 1.45%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.19%
hyperliquid
Hyperliquid (HYPE) $ 13.44 0.92%
whitebit
WhiteBIT Coin (WBT) $ 28.52 0.48%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,055.69 2.26%
monero
Monero (XMR) $ 210.89 0.35%
uniswap
Uniswap (UNI) $ 6.33 2.95%
susds
sUSDS (SUSDS) $ 1.04 0.10%
aptos
Aptos (APT) $ 5.37 4.08%
dai
Dai (DAI) $ 0.999845 0.02%
near
NEAR Protocol (NEAR) $ 2.64 5.09%
pepe
Pepe (PEPE) $ 0.000007 12.16%
okb
OKB (OKB) $ 50.82 3.89%
internet-computer
Internet Computer (ICP) $ 6.01 7.19%
mantle
Mantle (MNT) $ 0.817187 0.88%
ethereum-classic
Ethereum Classic (ETC) $ 18.12 3.65%
ondo-finance
Ondo (ONDO) $ 0.867123 5.84%
gatechain-token
Gate (GT) $ 21.97 3.09%
tokenize-xchange
Tokenize Xchange (TKX) $ 33.57 12.34%
aave
Aave (AAVE) $ 176.31 6.47%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,018.51 1.28%