Netgear’s Stock Falls 6 Percent Despite Earnings Report

Wireless hardware developer Netgear saw a 6% loss in share value Wednesday evening after revenue reports showed gains for their fourth quarter earnings.

Their stock is currently trading at $38.24 (-0.86%) in this morning’s market. Netgear saw a record high of $45 a share in late January and has held above $40 a share for most of February.

The latest figures released by Netgear earlier this week show that the company out-performed last years loss, with a net income of $30.95 million (99 cents per share). 

Revenue for last quarter was up 45% from last year, with Netgear accruing $367.1 million last quarter.

Shares in Netgear have seen a 60% increase year-to-date, with many investors signaling to buy during this dip in the market.

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