Netgear Q3 Revenues Whiff Badly; Stock Sags
Netgear (NTGR) this morning said revenue for its third quarter ended Sept. 28 was $173 million to $183 million–well short of its previous guidance range of $208 million to $212 million.
In a statement, CEO Patrick Lo said the company “experienced weakness in September demand on our consumer products across all channels and in all geographies, particularly in the service provider channel, where our carrier customers worldwide requested shipment delays on previously placed orders, thereby preventing us from recognizing revenue on those orders.”
