Redeye updates its estimates after reviewing Truecaller's Q1 report, which showed higher sales and profitability than expected. Redeye believes that Truecaller continues to improve its various product offerings while awaiting a rebound in the overall ad market. This positions the company towards achieving higher ARPU, both by expanding into new markets and by adopting more valuable ad formats. Redeye raises its valuation.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/