NetGear Q2 Profit Tops View; Shares Up 7%

(RTTNews) - NetGear Inc. (NTGR) Wednesday reported second-quarter profit of $16.0 million or $0.48 per share, down from $16.6 million or $0.50 per share last year.

Adjusted earnings were $0.72 per share compared to $0.29 per share in the second quarter last year.

Net revenues for the quarter were $311.7 million, up from $310.3 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share and revenues of $298.87 million.

Looking forward to the third quarter, NetGear expects revenues of $315 million to $330 million. Analysts currently estimate earnings of 321.99 milion.

Shares of the company gained 7 percent in the extended trading session.