Netgear ( (NTGR) ) has provided an update.
NETGEAR reported a strong third quarter for 2024, surpassing revenue and profitability forecasts with net revenue at $182.9 million. Despite a 7.6% decrease compared to the previous year, the company achieved significant profitability and increased its cash reserves by over $100 million. CEO CJ Prober highlighted the success of the ProAV business and new product launches like the M7 Pro mobile hotspot as key drivers for growth. With ongoing inventory reduction and strategic market positioning, NETGEAR aims to sustain long-term growth and shareholder value.
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