Welcome to our dedicated page for GigaMedia news (Ticker: GIGM), a resource for investors and traders seeking the latest updates and insights on GigaMedia stock.
Headquartered in Taipei, Taiwan, GigaMedia Limited (NASDAQ: GIGM) is a diversified provider of online games and cloud computing services. GigaMedia's primary business, FunTown, develops and operates a suite of digital entertainment services in Taiwan and Hong Kong, with a focus on browser and mobile games. The company's portfolio includes popular PC-based, non-cash gambling, or casino casual games like MahJong and various card and table games, along with other titles like AkaSeka, Yume 100, and Fun Vegas.
GigaMedia also operates a cloud computing division, GigaCloud, which provides SMEs in Greater China with essential communications services and IT solutions to enhance flexibility, efficiency, and competitiveness. The company’s commitment to innovation and strategic growth has positioned it as a leader in digital entertainment across Asia.
In recent news, GigaMedia announced several key updates:
- June 29, 2023: At the Annual General Meeting, all resolutions including the adoption of audited financial statements and approval of directors' remuneration were passed.
- July 31, 2023: The company reported its second-quarter 2023 financial results, highlighting a decrease in revenues primarily due to seasonality.
- September 8, 2023: GigaMedia entered into an agreement with Aeolus Robotics Corporation to amend a previously purchased convertible promissory note, extending the due date and including advantageous terms.
- October 31, 2023: Third-quarter financial results showed modest revenue growth and a slight reduction in net loss compared to the previous quarter.
- March 29, 2024: The company reported its unaudited financial results for the fourth quarter and full year of 2023, noting a strategic shift to enhance efficiency and develop AI-powered tools for their gaming offerings.
- May 3, 2024: First-quarter 2024 results were announced, with ongoing efforts to consolidate resources from underperforming products and stabilize gamer traffic.
With a robust financial position and a strategic focus on mergers and acquisitions, GigaMedia aims to expand its digital entertainment services and maximize shareholder value. More information can be found on their official website at www.gigamedia.com.tw.
GigaMedia (NASDAQ: GIGM) reported its Q3 2024 financial results, showing mixed performance. Revenues increased 6.7% quarter-over-quarter to $0.77 million, with gross profit up 3.3% to $0.37 million. However, the company recorded an operating loss of $1.01 million and a net loss of $0.32 million. Year-over-year, revenues declined 28.2% from $1.07 million. The company maintains a strong financial position with $35.3 million in cash and equivalents, representing $3.20 per share. Management plans to enhance social networking features in their games to promote player community and strengthen game stickiness.
GigaMedia (NASDAQ: GIGM) announced its Q2 2024 unaudited financial results. The company reported revenues of $0.72 million, a gross profit of $0.36 million, an operating loss of $1.05 million, and a net loss of $0.61 million. While revenues slightly decreased by 0.6% quarter-on-quarter and 29.7% year-over-year, gross profit increased by 4.0% from the previous quarter. The net loss decreased from $0.90 million in Q1 to $0.61 million in Q2.
GigaMedia's net asset value was $3.82 per share. The company maintained a solid financial position with cash, cash equivalents, and restricted cash amounting to $36.3 million, or $3.29 per share, as of June 30, 2024. The company is currently focusing on fine-tuning its casual games and customer platform for the upcoming summer vacation.
GigaMedia (NASDAQ: GIGM), a digital entertainment services provider, announced that all resolutions at its Annual General Meeting (AGM) on June 27, 2024, were passed. Key resolutions included the adoption of audited financial statements, the appointment of auditors, approval of directors' remuneration, authority to allot and issue shares, and a share purchase mandate. The resolutions received strong support, with approval percentages ranging from 93.34% to 97.34%.
The detailed voting results are as follows: 96% for the adoption of audited financial statements, 97.34% for the appointment of auditors, 93.62% for directors' remuneration, 93.34% for the authority to allot and issue shares, and 96.63% for the share purchase mandate.
GigaMedia is headquartered in Taipei, Taiwan, and provides digital entertainment services in Taiwan and Hong Kong, focusing on mobile and casual games development, distribution, and operation.
GigaMedia has announced its 25th Annual General Meeting (AGM) of shareholders, scheduled for June 27, 2024 in Taipei, Taiwan. Key agenda items include the adoption of audited financial statements for the fiscal year ending December 31, 2023, and the appointment of Deloitte & Touche as auditors. Other resolutions involve approving directors' remuneration capped at $350,000, authorizing the issuance of new shares, and instituting a share purchase mandate allowing up to 10% of issued shares to be repurchased. Shareholders are encouraged to attend or vote via proxy by June 24, 2024.
GigaMedia (NASDAQ: GIGM) announced its first quarter 2024 unaudited financial results, reporting revenues of $0.73 million, a gross profit of $0.35 million, and a net loss of $0.90 million. The company experienced a decrease in revenues by 16.7% compared to the previous quarter. GigaMedia plans to continue exploring digital entertainment to promote its products and services in 2024.
FAQ
What is the current stock price of GigaMedia (GIGM)?
What is the market cap of GigaMedia (GIGM)?
What are the main products and services offered by GigaMedia?
Where does GigaMedia operate?
What are some key recent achievements of GigaMedia?
What financial position does GigaMedia hold as of their latest reports?
What strategic focus does GigaMedia have for future growth?
How did GigaMedia perform financially in 2023?
What is the GigaCloud business division?
How does GigaMedia handle investor inquiries?
What is GigaMedia's strategy for digital entertainment services?
Where can I find more information about GigaMedia?
