Truecaller jumps as upbeat demand comments overshadow mixed Q1

Truecaller AB

11/05/2023 09:15

** Shares in Truecaller  TRUEb.ST  jump 11% after the
Swedish software company said it saw signs of improving demand
at end of the quarter, noting as well positive start to Q2, even
as it reported mixed Q1 results
    ** Q1 adjusted EBITDA came in at SEK 150 million ($14.77
million), which Redeye says beat consensus expectations by a
notch, while Q1 revenue was below estimates
    ** "Very tight cost control is the reason for the
better-than-expected profitability," it adds
    ** The broker says it is positive about the gradual
improvement towards the end of the quarter, which bodes well for
the coming quarters
    ** If gains hold, the stock will see its best day since July
2022



($1 = 10.1526 Swedish crowns)

 (Reporting by Jagoda Darlak)
 ((jagoda.darlak@tr.com))