Truecaller tumbles after Q4 miss as it expects weak sentiment to persist

Truecaller AB

22/02/2023 08:41

** Shares of Truecaller  TRUEb.ST  slump 28% after the
Swedish software company reported weaker-than-expected Q4
results and gave limited outlook
    ** The company reported Q4 adjusted EBITDA of SEK 136
million ($13.15 million) vs SEK 170 mln seen in a
company-compiled poll, according to J.P.Morgan
    ** Truecaller says it expects weaker sentiment to persist at
least through H1 2023
    ** But JPM notes there is no explicit FY guidance, and there
does not seem to be a reiteration of the mid-term targets either
    ** Wednesday's losses wipe off SEK 3.3 billion from the
company's market cap
($1 = 10.3459 Swedish crowns)
 (Reporting by Agnieszka Gosciak-Rabalska)
 ((Agnieszka.Gosciak@thomsonreuters.com))