Netgear settles with TP-Link for $135M, raises Q3 revenue guidance to $170-180M

NETGEAR, INC.

Received $135M payment from TP-Link settlement; all pending patent disputes dismissed.
Raised Q3 revenue guidance to $170-180M from $160-175M due to earlier 5G mobile hotspot launch.
GAAP operating margin now 48-51% (prev. -15.3% to -12.3%) driven by settlement contra-expense.
Non-GAAP operating margin improved to -4% to -1% (from -11% to -8%) on settlement & higher rev.
Cash benefit of settlement after fees & tax expected ~$90.3M; GAAP tax expense raised to $19-20M.

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