Netgear reports Q2 EPS 6c vs (74c) last year

Reports Q2 revenue $170.5M vs $143.9M last year. CJ Prober, Chief Executive Officer, commented, “In Q2 we once again delivered revenue and operating margin above the high end of our guidance, in addition to generating record gross margin. The transformation of our three business units continues to accelerate thanks to the proactive and strategic investments we’ve made, and we are thrilled with the strong execution by our global team this quarter. We completed our restructuring in Q1 to further streamline our operating costs and strategically reinvest in the business. The new products we’ve launched as part of our growth strategy are clearly generating significant improvements across both the top and bottom line. Despite a supply constrained environment, we delivered an over 500 basis point year over year increase in contribution margin across each business unit and saw strong demand for our leading products such as our ProAV and Wifi 7 connectivity solutions, all of which resulted in positive non-GAAP EPS in Q2. This momentum positions us well for further growth and profitability expansion as we continue to deliver on our transformation.”