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Truecaller slashes 70 jobs amid declining ad sales

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Sweden-based caller ID company Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide.

As TechCrunch reported last month, the company is already facing challenges from India’s telecom-led solutions, such as Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads last year.

In its Q1 2026 results, Truecaller’s net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%.

“The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region,” Truecaller CEO Rishit Jhunjhunwala said during the earnings call.

Last August, India banned real-money gaming apps such as Dream 11 and MPL that allowed users to use money to play fantasy sports. Industry bodies estimated that the real-money gaming industry was worth $23 billion in India. Because of this shutdown, platforms on which these real-money apps are advertised were deprived of that revenue.

Truecaller also said that the revenue decline in the ad business was also due to a programmatic partner, identified as Google by an analyst earlier this year, changing its algorithms.

There were only a few positives for the company this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription revenue increased by 27%, representing 31% of net sales. The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attractive.

Truecaller’s stock has dipped by over 26% this year and by over 79% in the last 12 months. However, after the Q1 results, it has seen some recovery.

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Super Eagles Impressive in Narrow Defeat by World Cup-bound Portugal in Leiria

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The Super Eagles showed great form, confidence and praiseworthy fighting spirit despite losing 1-2 to FIFA World Cup-bound Portugal in an explosive friendly match in Leiria on Wednesday night.

Just before kick-off, Chairman of the National Sports Commission, Mallam Shehu Dikko and NFF Executive Committee member Sharif Rabiu Inuwa presented a special framed shirt to midfielder Alexander Iwobi to mark the occasion of his 100th appearance for the Super Eagles.

Cristiano Ronaldo, one of the greatest individuals to have played the game, led the Seleção das Quinas out onto the turf of the Estádio Dr Magalhães Pessoa, but the home team and crowd soon realized that the three-time African champions were not in any mood to simply turn up and be dazzled.

Ronaldo missed with only goalkeeper Maduka Okoye to beat in the 9th minute, but at the other end, Akor Adams also missed as he dragged his shot a little too wide to the left.

In the 23rd minute, Pedro Neto steered Portugal in front as he fired a grounder past Okoye from close range, after a pass by Diogo Dalot as das Quinas broke forward again.

Ten minutes later, Okoye spectacularly saved a fierce shot by Bruno Fernandes, and just a minute after, Ronaldo missed narrowly with a glancing header from Fernandes’ corner.

Nigeria kept probing. The fit-fight Akor contested an aerial ball close to the centre circle and tipped the ball away from two Portuguese defenders, ran to his left to await delivery by Fisayo Dele-Bashiru, and blasted past Diogo Costa for Nigeria’s leveller with 37 minutes gone.

In the second half, Okoye made a double save from João Félix, in the 48th and 49th minutes. Five-time Ballon d’Or winner Ronaldo also continued his search for a goal, but he failed to connect well from a cross in the 50th minute.

On the hour, Coach Éric Chelle made a number of changes, bringing in Abdullahi Bewene, Zaidu Sanusi, Terem Moffi, Raphael Onyedika and Frank Onyeka.

This appeared to rejuvenate Nigeria’s game, and they were once more pushing forward with elan, as Ronaldo exited in the 65th minute without the goal he wanted so much.

With 15 minutes left, Francisco Çonceicao got the winner for the das Quinas, firing home after cutting in from the right and with Okoye’s sight somewhat impaired.

Félix’s efforts to get on the scoresheet was again scuttled in the 84th minute by Okoye, who pushed away another fierce delivery by the forward.

The loss was only the second in regulation time for Coach Chelle after leading the Super Eagles in 25 matches over the past 15 months.

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NCC Chief Aminu Maida to Keynote 2026 DigitalSENSE Forum in Lagos

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The Executive Vice Chairman and CEO of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, is set to deliver the Keynote Address at the upcoming 2026 Nigeria DigitalSENSE Forum (NDSF) on Internet Governance for Development (IG4D). Scheduled for this Thursday, June 11, 2026, at the Banquet Hall, Welcome Centre Hotels in Lagos, the landmark 17th milestone edition will anchor its deliberations on the crucial theme: “Sustaining WSIS Vision with Multistakeholder Synergy in Nigeria.”

Dr. Maida’s address will focus on the regulatory frameworks required to preserve the World Summit on the Information Society (WSIS) vision through inclusive, multi-stakeholder partnerships. The high-level forum and its prestigious industry awards have rallied robust support from the foundational pillars of Nigeria’s telecommunications and digital infrastructure ecosystem.

Major public and private sector players are heavily backing the forum as part of their commitment to promoting critical national infrastructure and securing Nigeria’s digital possibilities. Among the leading sponsors driving this momentum are IHS Nigeria—the nation’s premier digital infrastructure champion boasting over 16,000 telecom towers and 15,000km of fiber optic cables—and data center colocation leader Digital Realty.

Ogbuefi Remmy Nweke, the Editor-in-Chief of host media organization ITREALMS Media Group, commended the immense institutional support flowing from the industry ahead of the event.

“Achieving sustainable internet governance and digital trust requires an intentional alignment of regulation and infrastructure,” Nweke remarked. “The active collaboration of the NCC, IHS Nigeria, and Digital Realty ensures that the 2026 forum will move beyond mere dialogue to produce clear, actionable policy recommendations for our digital economy.”

The event will be presided over by Dr. Olusola Teniola (hon), Director of Strategic Business Initiatives at ipNX Nigeria and former President of the Association of Telecommunications Companies of Nigeria (ATCON), who will deliver the Chairman’s Opening Speech on the 2026 NDSF blueprint.

A broad coalition of leading telecommunications, technology, and internet governance stakeholders have also thrown their weight behind the event. These include ICT infrastructure leader MTN Nigeria; the Association of Licensed Telecoms Operators of Nigeria (ALTON); premier software and DNS infrastructure firm Upperlink Limited; and the Nigeria Internet Registration Association (NiRA), managers of the .NG country code Top Level Domain name.

The post NCC Chief Aminu Maida to Keynote 2026 DigitalSENSE Forum in Lagos appeared first on Business Today NG.

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