earnings
confidence high
sentiment negative
materiality 0.75
NETGEAR Q3 revenue $290.2M (-23.3% YoY); guides Q4 $250-265M with margin contraction
NETGEAR, INC.
2021-Q3 EPS reported
$1.61
revenue$916,886,000
- Q3 net revenue $290.2M, down 23.3% YoY; GAAP EPS $0.31, non-GAAP EPS $0.50.
- SMB revenue grew 33% YoY but supply constrained; consumer WiFi market growth below expectations.
- Board authorized incremental repurchase of up to 3.0M shares (~10% of outstanding); Q3 bought 953K shares for $32.5M.
- Q4 guidance: revenue $250M-$265M; GAAP op margin (0.5%)-0.5%, non-GAAP 2.0%-3.0% due to logistics and freight cost headwinds.
- Paid subscriptions reached 552,000; management confident in 1M subscriber milestone in three years.