TomTom: guidance 2020 withdrawn
(CercleFinance.com) - Dutch navigation company company TomTom this morning announced that it was withdrawing its guidance for 2020 due to uncertainty around the economic impact of the COVID-19 pandemic.
In a statement, the digital mapping expert said the economic impact resulting from the outbreak on its financial results cannnot be "reliably assessed."
In its original outlook TomTom expected group revenue to fall by around 5% this year.
As a precautionary measure, the group has decided to suspend its share buyback program.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In a statement, the digital mapping expert said the economic impact resulting from the outbreak on its financial results cannnot be "reliably assessed."
In its original outlook TomTom expected group revenue to fall by around 5% this year.
As a precautionary measure, the group has decided to suspend its share buyback program.
Copyright (c) 2020 CercleFinance.com. All rights reserved.