NETGEAR, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 01, 2023
October 25, 2023 at 04:05 pm
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NETGEAR, Inc. reported earnings results for the third quarter and nine months ended October 01, 2023. For the third quarter, the company reported sales was USD 197.85 million compared to USD 249.59 million a year ago. Net loss was USD 84.8 million compared to net income of USD 2.8 million a year ago. Basic loss per share from continuing operations was USD 2.87 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 2.87 compared to diluted earnings per share from continuing operations of USD 0.1 a year ago.
For the nine months, sales was USD 552.17 million compared to USD 683.37 million a year ago. Net loss was USD 103.1 million compared to USD 62.94 million a year ago. Basic loss per share from continuing operations was USD 3.52 compared to USD 2.17 a year ago. Diluted loss per share from continuing operations was USD 3.52 compared to USD 2.17 a year ago.
NETGEAR, Inc. is engaged in providing networking technologies and Internet-connected products for consumers, businesses and service providers. The Company operates through two segments: Connected Home, and NETGEAR for Business. The Connected Home segment focuses on consumers and provides high-performance, dependable and easy-to-use premium WiFi networking solutions such as WiFi 6, WiFi 6E and WiFi 7 Tri-band and Quad-band mesh systems and routers, 4G/5G mobile products, smart devices such as Meural digital displays, and subscription services that provide consumers a range of value-added services. The NETGEAR for Business segment focuses on businesses and provides solutions for business networking, wireless local area network (LAN), audio and video over Ethernet for Pro AV applications, security and remote management. The Company conducts business across three geographic territories: the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC).
NETGEAR, INC. 
