Corrected: Map maker TomTom's Q3 loss narrows boosted by car branch growth
13/10/2023 06:15
(Corrects Q3 operating loss figure to 8.7 million euros from
7.9 million euros in paragraph 2 and year-earlier loss to 17.8
million euros from 17.5 million)
Oct 13 (Reuters) - Digital mapping specialist TomTom
TOM2.AS on Friday reported a smaller than expected operating
loss for the third quarter, driven by strong results in its
automotive branch that grew faster than global car production.
The Dutch company, which relies on its automotive unit for
growth, said its quarterly operating loss narrowed to 8.7
million euros ($9.2 million) from a loss of 17.8 million a year
earlier. Analysts polled by the company had forecast a loss of
11 million euros.
It reported a quarterly revenue of 144.1 million euros, up
6% from a year earlier.
($1 = 0.9481 euros)
(Reporting by Gaëlle Sheehan and Nathan Vifflin in Gdansk;
editing by Milla Nissi)
((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))