Connect with us

News

Truecaller slashes 70 jobs amid declining ad sales

info

Published

on

Truecaller.jpg

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

EuroMatch NPFL: Enyimba Roar Back to Winning Ways, Thrash Shooting Stars 4-2 in Aba

info

Published

on

WhatsApp Image 2026 09 30 at 6.10.41 PM.jpeg

Enyimba FC returned to winning ways in emphatic fashion on Wednesday after defeating visiting Shooting Stars 4-2 in an entertaining EuroMatch NPFL Matchday 2 rescheduled fixture at the Enyimba International Stadium, Aba.

Sports247 reports that the People’s Elephant produced an impressive attacking display to claim maximum points, scoring four times before the visitors mounted a late fightback with two goals in the closing stages.

Enyimba wasted little time taking control of the encounter, with Richard Ezinna opening the scoring in the seventh minute to give the hosts an early advantage.

The home side continued to press forward and doubled their lead in the 29th minute through Damian Chibueze, putting Shooting Stars under increasing pressure.

The visitors struggled to contain Enyimba’s attacking momentum, and the Aba side added a third goal just seven minutes later.

Idris Abubakar found the back of the net in the 36th minute as Enyimba went into the interval with a commanding 3-0 advantage.

Shooting Stars needed a strong response after the restart, but Enyimba struck again almost immediately.

Ifeanyi Ihemekwele extended the hosts’ lead in the 49th minute, making it 4-0 and putting Enyimba firmly in control of proceedings.

With a four-goal cushion, the hosts appeared to be heading towards a comfortable victory, but Shooting Stars refused to surrender completely.

The Oluyole Warriors eventually found a breakthrough in the 76th minute when Mustapha Adams Agba’a reduced the deficit, giving the visitors a glimmer of hope.

Shooting Stars then added another goal deep into stoppage time, with Johnmark Aule scoring in the 91st minute to make it 4-2.

However, the late rally was not enough to prevent Enyimba from securing all three points.

The victory provides a significant boost for the Aba giants following a difficult start to their NPFL campaign. Enyimba’s four-goal performance also offered a much-needed attacking statement, with four different players finding the net.

For Shooting Stars, the defeat means they leave Aba empty-handed despite their late effort to reduce the deficit.

Enyimba will now look to build on the victory and use the result as a springboard for improved consistency as the NPFL season continues.

The rescheduled Matchday 2 fixture ultimately delivered a six-goal spectacle, but it was Enyimba who had the final say, roaring back to winning ways in front of their home supporters.

Continue Reading

News

2027: Watch out for AI manipulated campaigns – Akpabio tells Nigerians

info

Published

on

Akpabio .jpg

Senate President Godswill Akpabio has told Nigerians to watch out for artificial intelligence manipulated campaign messages as the 2027 election approaches.

The Senate President also said that no election prize is worth the life of any Nigerian.

Speaking on the floor of the Senate, Akpabio said no election victory should be celebrated if it hurts the country.

“Let the competition be intense, let it be fair, and let every person involved remember that a country must remain united once the election is over.

Recommended

“People who want to hold positions don’t have to agree completely to work together effectively as Nigerians.

“We can argue without making communities compete against each other, or making different faiths fight against each other, or having one part of our country face off against another.

“Let every candidate explain their ideas and respond to tough questions, and let every citizen have the freedom to choose based on that. We need to stop violence, fear, and the false information that spreads quickly and causes people to lose trust.

“No electoral prize is worth taking a Nigerian life. No victory should be celebrated if it leaves the country hurt.

“So watch out for AI manipulated campaigns. Let every candidate explain their ideas and face tough questions, and let every citizen have the freedom to choose,” the Senate President said.

Continue Reading

Trending