NETGEAR (NTGR) Q1 Loss Wider Than Expected, Revenues Fall Y/Y

NETGEAR, Inc (NTGR) reported first-quarter 2024 non-GAAP loss of 28 cents per share compared with non-GAAP loss of 19 cents recorded in the year-ago quarter. The reported figure was wider than the Zacks Consensus Estimate of a loss of 27 cents.NTGR generated net revenues of $164.6 million, down 9% year over year. However, the top line beat the consensus estimate by 0.4%.Management noted that tough macroeconomic conditions along with inflationary pressure and high interest rates compelled channel partners to ...