BRIEF-Truecaller Q1 Net Sales Down At SEK 361.6 Million

May 7 (Reuters) - Truecaller AB TRUEb.ST:

  • Q1 NET SALES DECREASE 27% TO SEK 361.6 MILLION; 16% DECREASE IN CONSTANT CURRENCIES

  • Q1 SUBSCRIPTION REVENUES UP 52%, TRUECALLER FOR BUSINESS DOWN 8%, AD REVENUE DOWN 34% IN CONSTANT CURRENCIES

  • WE EXPECT AD REVENUES TO REMAIN SOFT IN Q2, WHILE WE CONTINUE TO EXECUTE ON OUR LONG-TERM STRATEGY TO REVERSE CURRENT TREND

  • WE WILL REDUCE OUR STAFF COUNT MATERIALLY, WITH ABOUT 70 POSITIONS, AND CONSEQUENTLY INCUR ONE-OFF RESTRUCTURING COST OF ABOUT SEK 23 MILLION IN Q2

Source text: ID:nPn34BRtta

Further company coverage: [TRUEb.ST]


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