Netgear Q2 Profit Declines; Issues Q3 Revenue Outlook

(RTTNews) - Netgear Inc. (NTGR), Thursday reported second-quarter net income of $14.0 million or $0.36 per share, compared to $21.5 million or $0.56 per share in the comparable quarter last year.

Adjusted earnings for the quarter was $0.62 per share, down from $0.64 per share in the second quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the latest second quarter rose to $357.72 million from $320.66 million last year, while five analysts estimated revenues of $353.28 million for the quarter.

The company expects third quarter net revenue of $345 million to $360 million. Analysts currently estimate earnings of $377.00 million for the quarter.