GigaMedia Announces First-Quarter 2024 Financial Results
GigaMedia Limited - Ordinary Shares (GIGM)
US:NASDAQ Investor Relations:
gigamedia.com
Company Research
Source: PR Newswire
TAIPEI, May 3, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its first quarter 2024 unaudited financial results.Comments from ManagementFor the first quarter of 2024, GigaMedia reported revenues of $0.73 million with a gross profit of $0.35 million, an operating loss of $1.11 million and the net loss of $0.90 million.If compared to the previous quarter, the revenues decreased by 16.7%. In this quarter, we continued scaling back and consolidating resources from underperforming products, and certain disruptive factors in our sales channel were gradually remediated. While the turnaround of financial performance may not be immediate, after the optimizing measures we are encouraged to see gamers' traffic is stabilizing in our higher margin legacy casual games.With a slimmer team in place, for 2024 we plan to continue our exploration of digital entertainment to further develop and promote our own products and services.First Quarter OverviewOperating revenues decrease
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GIGM
News
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- GigaMedia Limited (NASDAQ: GIGM) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
GIGM
Sec Filings
- 5/3/24 - Form 6-K
- 4/29/24 - Form 20-F
- 3/29/24 - Form 6-K
- GIGM's page on the SEC website