Why Netgear (NTGR) Stock Is Skyrocketing Today

Netgear (NASDAQ:NTGR) stock is soaring today as the company delivered its second-quarter results.

Netgear

The global networking company posted net revenue of $288.8 million for the period, compared to $337.6 million for the year-ago quarter.

Net incomes for the second quarter was $3.7 million, or $0.11 net income per diluted share. Year-ago income was $14.7 million, or $0.40 per diluted share.

“[Our Retail Business Unit’s] performance during the quarter was driven by our Arlo smart home security camera and our premium line of Nighthawk routers and gateways,” said Patrick Lo, Chairman and Chief Executive Officer of Netgear.

He added that the growth in those two lines exceeded expectations.

NTGR stock is up 19.6% Friday.

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