: Netgear stock drops 12% as company posts wider loss, orders dry up


Shares of Netgear Inc. NTGR tanked more than 12% in the extended session Wednesday after network-hardware maker reported a wider-than-expected quarterly loss and revenue that missed the mark, saying it faced an “unprecedented” inventory reduction by its largest service provider partner and similar reductions by its largest e-commerce partner. Netgear lost $9.7 million, or 33 cents a share, in the first quarter, compared with a loss of $57 million, or $1.95 a share, in the year-ago period. Adjusted for one-time items, Netgear lost 19 cents a share. Revenue dropped 14% to $180.9 million, Netgear said. Analysts polled by…

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