Gigamedia (GIGM) has released an update.
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GigaMedia Limited reported a decline in first-quarter 2024 revenues to $0.73 million, a 16.7% decrease from the previous quarter, alongside a net loss of $0.90 million, showing improvement from a $2.02 million net loss. Despite the setbacks, the company is optimistic due to stabilizing traffic in high-margin legacy games and plans to explore digital entertainment avenues while maintaining a solid cash position of $36.82 million.
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