Why Netgear Stock Jumped Today
Shares of Netgear (NASDAQ: NTGR) have jumped today, up by 7% as of 12:40 p.m. EDT, after the networking equipment maker reported second-quarter earnings. Revenue in the second quarter increased 21% to $280.1 million, which translated into adjusted earnings per share of $0.54. "The surge in demand that began in March continued throughout the entire quarter and resulted in strong growth in both the retail and service provider channels for the CHP business," CEO Patrick Lo said in a statement.