Netgear Inc. (NTGR) reported second quarter adjusted EPS of $0.29 after the bell Thursday, down from $0.58 last year. Revenues fell to $288.8 million from $337.6 million in the prior year. The consensus estimates were for EPS of $0.30 and revenues of $277.8 million.
For the third quarter, the company expects revenues of $315 million to $330 million, while analysts expect $302 million.
Netgear gapped up sharply Friday and climbed in early trade, before settling into a range. The stock ended the day with a gain of 5.05 at $33.80 on the highest volume of the year. Netgear surged to a 3-month high and re-crossed its 50 and 200-day moving averages.
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