Netgear, Inc. (NTGR) Misses Q1 EPS by 9c, Guidance Misses

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Go back to Netgear, Inc. (NTGR) Misses Q1 EPS by 9c, Guidance Misses

NETGEAR® Reports First Quarter 2023 Results

April 26, 2023 4:05 PM EDT

Q1 GAAP gross margin of 33.4%; Non-GAAP gross margin of 33.6%

772,000 paid subscribers for 23.1% growth year over year

SAN JOSE, Calif.--(BUSINESS WIRE)-- NETGEAR, Inc. (NASDAQ: NTGR), a global networking company that delivers innovative networking and Internet connected products to consumers and businesses, today reported financial results for the first quarter ended April 2, 2023.

First quarter 2023 net revenue of $180.9 million, a decrease of 14.1% from the comparable prior-year quarter. First quarter 2023 GAAP operating loss of $12.0 million, or (6.6)% of net revenue, as compared to... More