Truecaller revenue more than doubles in first post-IPO earnings report – Reuters

STOCKHOLM, Oct 27 (Reuters) – Swedish mobile phone directory and caller identification service Truecaller (TRUEb.ST) reported a 129% rise in quarterly revenue in its first earnings report as a public company.
Revenue rose to 312.8 million Swedish crowns ($36.48 million) from 136.5 million crowns a year earlier while monthly active users rose 20% from a year earlier to around 292 million.
"All the investments we have done on the tech side in regards to an ad tech platform, Truecaller for business and subscriptions are showing results for us," CEO Alan Mamedi said in an interview.
The company, which counts India as its biggest market, listed its Class B shares late last month.
Mamedi and Nami Zarringhalam, who co-founded Truecaller in 2009, intend to control a majority of the company's voting power through ownership of Class A shares.
While Truecaller has most customers among Android phone users, it is rolling out a new technology for iPhones, with U.S. as the first market.
"It's very similar to the Android experience and so far the feedback we received from customers in the U.S. are positive," Mamedi said.
Adjusted core earnings at the company nearly tripled to 117.7 million crowns.
($1 = 8.5737 Swedish crowns)
Our Standards: The Thomson Reuters Trust Principles.
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Information, analytics and exclusive news on financial markets – delivered in an intuitive desktop and mobile interface.
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved

source