GigaMedia (NASDAQ:GIGM) Releases Earnings Results

GigaMedia (NASDAQ:GIGM) announced its quarterly earnings data on Friday. The technology company reported $0.17 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $3.16 million during the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%.

GigaMedia Trading Up 14.6%

NASDAQ GIGM opened at $1.41 on Friday. The stock’s 50 day moving average is $1.35 and its 200 day moving average is $1.43. GigaMedia has a 12 month low of $1.11 and a 12 month high of $1.66. The stock has a market cap of $15.58 million, a PE ratio of -7.83 and a beta of 0.44.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About GigaMedia

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.