Gigamedia (GIGM) has released an update.
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GigaMedia reported a decrease in annual revenue to $4.3 million in 2023, down by 23.2% from the previous year, and a net loss of $3.5 million, slightly up from $2.8 million in 2022. Despite cutting operating expenses and a small reduction in cash reserves, the company suffered a valuation loss on investments. Moving forward, GigaMedia plans to focus on developing AI-powered tools for their casual gaming content, aiming to enhance productivity and accelerate business growth.
For further insights into GIGM stock, check out TipRanks’ Stock Analysis page.
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