TomTom: beats on quarterly profit, raises guidance
(CercleFinance.com) - TomTom reported late on Monday quarterly revenue and profit that beat analyst estimates, as the Dutch navigation device maker raised its guidance for the year.
Shares rose 5.5% per cent to 7.7 euros in morning trading.
Due to higher demand from its automotive customers, TomTom now expects to deliver full year revenue of around 825 million euros, from a previous estimate of around 800 million euros.
For the past quarter, TomTom reported revenue of 231 million euros, from 253 million euros one year earlier, and operating results (EBIT) of 25 million euros, compared to a consensus of just 10 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Shares rose 5.5% per cent to 7.7 euros in morning trading.
Due to higher demand from its automotive customers, TomTom now expects to deliver full year revenue of around 825 million euros, from a previous estimate of around 800 million euros.
For the past quarter, TomTom reported revenue of 231 million euros, from 253 million euros one year earlier, and operating results (EBIT) of 25 million euros, compared to a consensus of just 10 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.