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.
GigaMedia Ltd (GIGM) delivers innovative digital entertainment and cloud computing solutions across Asia. This news hub provides investors and industry observers with authoritative updates on the company's strategic developments across both business segments.
Access real-time announcements including quarterly earnings reports, game portfolio expansions, and cloud service innovations. Our curated collection ensures you never miss critical updates about mobile gaming launches, SME-focused IT solutions, or regional market entries.
Key content categories include financial performance disclosures, partnership announcements with developers and technology providers, and operational updates from both the entertainment and enterprise cloud divisions. Bookmark this page for streamlined tracking of GIGM's progress in casual gaming markets and business infrastructure solutions.
GigaMedia Limited (NASDAQ: GIGM) reported its 2022 financial results, showing revenues of $5.6 million, a slight increase of 1.7% from 2021. Gross profit rose to $3.3 million, achieving a gross margin rate of 58.2%. The company posted a net loss of $3.1 million, improving from $3.4 million in the previous year. Operating expenses decreased from $6.9 million to $6.3 million. Despite challenges in the entertainment sector, GigaMedia has maintained a solid financial position with $39.1 million in cash. The fourth quarter witnessed a 30% decline in revenues quarter-on-quarter, attributed to seasonality.
GigaMedia Limited (NASDAQ: GIGM) announced its Q3 2022 financial results, reporting revenues of $1.58 million, up 15.6% from Q2 2022. Gross profit reached $0.95 million, with a gross margin improvement to 60.3%. The company experienced a consolidated operating loss of $0.67 million, reduced from $0.84 million in the prior quarter, and a net loss of $0.87 million compared to $1.13 million last quarter. Cash and equivalents stood at $39.6 million, or $3.58 per share. Management continues to streamline operations amid economic challenges to ensure sustainable performance.
GigaMedia Limited (NASDAQ: GIGM) reported its second-quarter 2022 financial results, revealing revenues of $1.36 million, a 14.1% decline in gross profit to $0.77 million, and a net loss of $1.13 million. Compared to the prior quarter, revenues decreased by 11.8% due to weakened consumer sentiment amid inflation and economic downturns. However, revenues increased by 11.3% year-over-year. Operating losses remained stable, and cash reserves were reported at $39.6 million. GigaMedia aims to enhance its product offerings despite market challenges.
On June 23, 2022, at GigaMedia Limited's Annual General Meeting (AGM), all resolutions stated in the AGM Notice dated May 13, 2022, were passed. Key resolutions included the adoption of audited financial statements with 98.81% votes in favor, appointment of auditors with 99.00% approval, and directors' remuneration with 97.65% support. Additionally, resolutions for share issuance authority and share purchase mandate received 97.99% and 98.74% approval, respectively. The company, headquartered in Taipei, Taiwan, specializes in digital entertainment services.
