NETGEAR pre-announces Q1 revenue $202-$212M, below guidance; expects negative operating margins

NETGEAR, INC.

2022-Q1 EPS reported -$1.95 revenue$210,558,000

Preliminary Q1 net revenue $202M-$212M vs prior guidance of $225M-$240M.
GAAP operating margin expected (7.7)%-(6.7)%; prior guidance (1.5)%-(0.5)%.
Non-GAAP operating margin expected (5.3)%-(4.3)%; prior guidance 1%-2%.
CHP revenue declined as US consumer WiFi market fell; SMB hit by Shenzhen COVID lockdowns disrupting supply.
Full Q1 results will be released on April 27, 2022.

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