Courtesy of Benzinga.
NETGEAR, Inc. (NASDAQ: NTGR) shares have seen buying pressure Wednesday afternoon as investors are applauding better-than-expected first-quarter results.
The stock was last indicated at $44 even, up about 10 percent from the close of Wednesday’s intraday session.
Elsewhere in the Network Equipment space, at least several other stocks are seeing upside action:
- Extreme Networks, Inc (NASDAQ: EXTR) – up 9 percent to $3.60;
- Sonus Networks, Inc. (NASDAQ: SONS) – up 2.3 percent to $8.55; and,
- Juniper Networks, Inc. (NYSE: JNPR) – unchanged, but shares had been volatile in the post-market session.
Given the sector-wide price action, investors have shown a belief the NETGEAR results should bode well for other players in the space.
The company posted a quarterly profit of $0.74 per share on sales of around $310.3 million. Wall Street analysts expected earnings to hit $0.60 on sales of just $298.6 million.
NETGEAR also gave an indication to the next quarter: sales are expected to hit between $290 million and $305 million, compared to analysts’ second-quarter sales consensus estimate of $294 million.
Posted-In: Earnings News Guidance After-Hours Center Movers
