Why Netgear Stock Sank Today

Evan Niu, CFA, The Motley Fool
·2 min read
Why Netgear Stock Sank Today
Why Netgear Stock Sank Today

Shares of Netgear (NASDAQ: NTGR) sank today, closing down by 4%, after the company reported third-quarter earnings. Revenue in the third quarter increased 42% to $378.1 million, which was well above the consensus estimate of $313.5 million in sales. The networking technology company has seen demand for wireless routers and other equipment rise as consumers upgrade home networks while spending more time at home during the coronavirus pandemic.