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NETGEAR's Strong Q1 Results Have Investors In Network Equipment Sector Cheering

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NETGEAR, Inc. NTGR 0.93% shares have seen buying pressure Wednesday afternoon as investors are applauding better-than-expected first-quarter results.

The stock was last indicated at $44 even, up about 10 percent from the close of Wednesday's intraday session.

Elsewhere in the Network Equipment space, at least several other stocks are seeing upside action:

Given the sector-wide price action, investors have shown a belief the NETGEAR results should bode well for other players in the space.

The company posted a quarterly profit of $0.74 per share on sales of around $310.3 million. Wall Street analysts expected earnings to hit $0.60 on sales of just $298.6 million.

NETGEAR also gave an indication to the next quarter: sales are expected to hit between $290 million and $305 million, compared to analysts' second-quarter sales consensus estimate of $294 million.

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