Published on 1 May 2024 on GuruFocus.com via Yahoo Finance
Netgear Inc (NTGR) Q1 2024 Earnings: Misses Analyst Forecasts Amidst Market Challenges
Revenue: Reported at $164.6 million, slightly above the estimated $163.85 million.Net Loss per Share: GAAP net loss per share was $0.63, significantly above the estimated loss per share of $0.28.Service Revenue Growth: Increased by 21.2% year-over-year, indicating strong performance in service segments.Cash Flow from Operations: Grew by 88.4% year-over-year to $17.2 million, showcasing improved operational efficiency.Stock Repurchase: Repurchased approximately 783,000 shares, highlighting ongoing shareholder return efforts.Inventory Management: Reduced own inventory levels by $37.6 million, aligning with strategic efforts to optimize working capital.Future Guidance: Expects Q2 revenue to be between $125 million and $140 million, reflecting planned destocking activities.
Warning! GuruFocus has detected 6 Warning Signs with NTGR.