UPDATE 2-GigaMedia Q1 misses Street; shares fall
* Q1 EPS $0.08 vs est $0.09
* Q1 rev $44.4 mln vs est. $43.9 mln
* Sees Q2 revenue under pressure-CEO
* Shares down 11 percent (Adds conference call details, analyst comments, share movement)
By Mansi Dutta
BANGALORE, June 9 (Reuters) - Taiwan-based online gaming software firm GigaMedia Ltd (GIGM.O: Quote, Profile, Research) reported a fall in quarterly profit, missing estimates by a cent, due to a fall in revenue citing weakness of the euro against the U.S. dollar.
The company said it expects continued revenue pressure through the summer months due to normal seasonality and the effects of the global economic downturn.
The second quarter would remain flat to down sequentially in Asia and down in Europe, Think Equity analyst Atul Bagga said.
The company, however, seems to be confident about its Asian online gaming business in the second half of the year, driven by a strong pipeline. Continued...
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