TomTom: strong start to year lifts shares
(CercleFinance.com) - TomTom shares were up on Wednesday after the Dutch navigation systems maker said that it has had a "good start of the year.
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Group revenue increased by 14% to 170 million euros in the first three months of the year, thanks to new deals signed with Volkswagen, Nissan, and FCA.
However, first-quarter EBITDA fell to 18.8 million euros, from 25.7 million euros in the first quarter of 2018.
But the company reiterated its full-year outlook, aiming at revenue of 675 million euros.
Its shares are up over 3.5% in morning trading, making it the best performer on the AMX, Amsterdam's midcap index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
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Group revenue increased by 14% to 170 million euros in the first three months of the year, thanks to new deals signed with Volkswagen, Nissan, and FCA.
However, first-quarter EBITDA fell to 18.8 million euros, from 25.7 million euros in the first quarter of 2018.
But the company reiterated its full-year outlook, aiming at revenue of 675 million euros.
Its shares are up over 3.5% in morning trading, making it the best performer on the AMX, Amsterdam's midcap index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.