Gigamedia (GIGM) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.