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Why Shares of Netgear Tumbled Today

TheMotleyFool

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Shares of Netgear (NASDAQ: NTGR) slumped on Thursday after the networking company reported mixed third-quarter results. Revenue came up short of analyst expectations, and the company's guidance for the fourth quarter badly missed the mark. The stock was down about 15.2% at 11 a.m. EDT today.

Third-quarter revenue was $265.9 million, down 1.3% year over year and about $6.3 million below the average analyst estimate. A solid performance in North America was more than offset by weakness in other regions. CEO Patrick Lo pointed to Brexit uncertainty, yuan depreciation, and an unexpected economic slowdown in China and Hong Kong as contributing factors.

Image source: Getty Images.

Source Fool.com

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