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 Limited (NASDAQ: GIGM) reported its second-quarter 2020 results, revealing revenues of $1.83 million, a 13.8% increase from the previous quarter. The gross profit was $0.98 million, improving 5.5% quarter-on-quarter and 27.2% year-over-year. However, the company recorded an operating loss of $0.55 million, a reduction from last year, yet the net loss increased to $0.42 million. Cash reserves slightly declined to $56.8 million. Management aims to enhance the performance of its mobile platform, FunTown M.
GigaMedia Limited (NASDAQ: GIGM) announced that all resolutions were passed at its Annual General Meeting (AGM) on June 23, 2020. The results included:
- Adoption of audited financial statements: 99.03% in favor
- Approval of auditors: 98.75% in favor
- Approval of Directors' remuneration: 98.45% in favor
- Authority to allot and issue shares: 98.09% in favor
- Share purchase mandate: 98.14% in favor
This demonstrates strong shareholder support for the company's proposed initiatives.