NETGEAR Stock Surges 31% on Revised Outlook & Litigation Settlement [Yahoo! Finance]
NETGEAR, Inc. (NTGR)
Last netgear, inc. earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations:
investor.netgear.com
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Source: Yahoo! Finance
The stock rallied after the company announced an agreement with TP-Link Systems Inc., settling the companies' pending U.S. International Trade Commission and patent infringement litigation and TP-Link's breach of contract claims and patent challenges. NTGR has received a $135 million payment as consideration for resolving the litigation. As a result, all the legal disputes between the two parties will be dismissed per the terms of the settlement agreement. NTGR Raises Q3 Outlook NETGEAR also raised its third quarter of 2024 revenue guidance owing to the litigation settlement and early launch of the company's next-generation 5G mobile hotspot. The hotspot was previously expected to launch in the fourth quarter of 2024. Revenues for the third quarter are now expected to be between $170 million and $180 million compared with the earlier projected range of $160-$175 million. Of the total settlement amount, NETGEAR expects to report a net benefit (before taxes) of $103.6 million. N
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NTGR
News
- NETGEAR, Inc. (NASDAQ: NTGR) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- NETGEAR® Reports Third Quarter 2024 ResultsBusiness Wire
- NETGEAR® Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)Business Wire
- NETGEAR Schedules Third Quarter 2024 Results Conference CallBusiness Wire
- NETGEAR Announces Three New WiFi 7 Routers to Join the Industry-leading Nighthawk LineupBusiness Wire
NTGR
Earnings
- 10/30/24 - Beat
NTGR
Sec Filings
- 11/1/24 - Form 10-Q
- 10/30/24 - Form 8-K
- 10/21/24 - Form 4
- NTGR's page on the SEC website