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Why Netgear Stock Dropped Today

TheMotleyFool

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Shares of Netgear (NASDAQ: NTGR) were tumbling today after the company reported its second-quarter 2021 results late yesterday. Investors appear to be disappointed with the company's sales and earnings from the quarter, as well as management's third-quarter guidance.

The tech stock was down by as much as 15% today and had dropped by 10.2% as of 11:48 a.m. EDT.

Netgear reported sales of $308.8 million in the second quarter, an increase of just over 10% from the year-ago quarter. And the company's non-GAAP (adjusted) earnings of $0.66 per share were up from $0.54 per share in the year-ago quarter.

Source Fool.com

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