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Gigamedia ( (GIGM) ) has provided an announcement.
GigaMedia Limited announced its financial results for the fourth quarter and full year of 2024, reporting a 30.8% decrease in annual revenues to $3.0 million, primarily due to a slowdown in licensed games. Despite the revenue decline, the company managed to reduce its net loss to $2.3 million from $3.4 million in 2023 by restructuring its workforce and consolidating resources. GigaMedia maintained a solid financial position with $35.1 million in cash and equivalents, while also investing in AI capabilities to enhance productivity and future growth.
More about Gigamedia
GigaMedia Limited is a diversified provider of digital entertainment services, focusing on mobile and casual games through its FunTown business in Taiwan and Hong Kong.
YTD Price Performance: 16.67%
Average Trading Volume: 15,922
Technical Sentiment Signal: Hold
Current Market Cap: $19.34M
For detailed information about GIGM stock, go to TipRanks’ Stock Analysis page.
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