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 Limited (NASDAQ: GIGM) is a digital entertainment services company headquartered in Taipei, Taiwan, with operations focused on Taiwan and Hong Kong. Through its FunTown digital entertainment service business, GigaMedia develops and operates a suite of mobile games, browser/mobile games and casual games, and provides platform services for games. The company’s news flow reflects both its operating performance and its activities as a foreign private issuer listed on Nasdaq.
This news page aggregates GigaMedia’s publicly released updates, including quarterly and annual unaudited financial results, management commentary and outlook statements. Readers can follow announcements on digital entertainment service revenues, gross profit, operating loss, net income or loss, and cash, cash equivalents and restricted cash, all prepared in accordance with U.S. GAAP. GigaMedia also reports EBITDA as a non-GAAP measure and explains its use and limitations in each release.
In addition to earnings-related news, GigaMedia issues press releases on corporate actions such as the annual general meeting of shareholders, poll results for resolutions, and strategic investment activities. Recent announcements include the purchase of convertible promissory notes issued by Aeolus Robotics Corporation, highlighting GigaMedia’s interest in longer-term strategic relationships and investment alternatives.
Investors and followers of GIGM stock can use this page to review the company’s sequential and year-over-year performance trends in digital entertainment service revenues, operating metrics and balance sheet items, as well as to track updates on strategic investments and shareholder approvals. Regularly reviewing this news stream helps provide context for GigaMedia’s position in the digital entertainment market in Taiwan and Hong Kong.
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.
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