Loading...
Loading...
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 EXTR - up 9 percent to $3.60;
- Sonus Networks, Inc. SONS - up 2.3 percent to $8.55; and,
- Juniper Networks, Inc. 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in