: Netgear stock slips following outlook

Netgear Inc. NTGR shares slipped in the extended session Wednesday after the network equipment and router company’s outlook fell short of Wall Street estimates. Netgear shares fell 2% after hours, following a 0.7% rise in the regular session to close at $37.83. “While we expect supply constraints to ease, our second quarter net revenue is expected to be in the range of $305 million to $320 million,” said Bryan Murray, Netgear’s chief financial officer, in a statement. Analysts surveyed by FactSet had estimated revenue of $325 million for the second quarter. The company reported first-quarter net income of $23 million, or 72 cents a share, compared with a loss of $4.2 million, or 14 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 99 cents a share, compared with 21 cents a share in the year-ago period. Revenue rose to $317.9 million from $230 million in the year-ago quarter. Analysts had forecast 99 cents a share on revenue of $310.2 million.

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