TomTom beats Q1 revenue expectations, shares rise

Azelis NV

15/04/2025 08:15

** Shares in TomTom TOM2.AS rise 15% as the Dutch digital mapping specialist beats revenue expectations for the first quarter

** It released Q1 revenue of 140.4 million euros ($159.38 million), up 1% year-on-year, and above the 136 million euros expected in a company-provided consensus

** "We believe this is a good overall update which provides comfort after the weaker FY24 update," ING analyst Mark Hesselink says in a note

** The revenue is lead by better-than-expected performance in its automotive location technology business coupled with an 18% growth in its Enterprise location technology business

** "Automotive was a positive surprise given the ongoing weakness in global car markets" Hesselink adds

** Shares in TomTom are on track for their best day since September 2018

($1 = 0.8809 euros)

 (Reporting by Mathias de Rozario in Gdansk)

 ((mathias.derozario@thomsonreuters.com;))