TomTom suspends 2025 targets after wider Q2 operating loss
15/07/2024 06:21
July 15 (Reuters) - Digital mapping specialist TomTom
TOM2.AS reported a wider than expected second-quarter
operating loss on Monday, hit by lower revenue in its automotive
location technology and consumer divisions, and suspended its
outlook for 2025.
The Amsterdam-based company said it would not meet its 2025
guidance, and that it would provide new targets for next year
when it reports 2024 full-year results.
TomTom posted a loss before interest and taxes of 5.2
million euros ($5.7 million) for the second quarter of 2024,
versus a loss of 3.6 million euros in the same period a year
earlier.
Analysts on average were expecting a loss of 4 million
euros, a company-compiled consensus showed.
($1 = 0.9179 euros)
(Reporting by Mathias de Rozario and Leo Marchandon in Gdansk;
editing by Milla Nissi)
((mathias.derozario@thomsonreuters.com ;
leo.marchandon@thomsonreuters.com))