Tomtom shares slide after Q2 EBIT miss, trimmed outlook
15/07/2024 08:12
** Shares in TomTom TOM2.AS fall 4.5% after the digital
mapping specialist suspended 2025 targets, cut 2024 expectations
and reported wider than expected Q2 operating loss due to
weakness in the automotive sector
** It expects 2024 revenue to come in at the lower end of
its earlier guidance and says it will not meet its 2025 target
** It posts Q2 loss before interest and tax of 5.2 million
euros ($5.7 million) vs loss of 4 million euros expected by
consensus
** Including Monday's fall, the stock has dropped 16.8% YTD
($1 = 0.9186 euros)
(Reporting by Mathias de Rozario and Leo Marchandon)
((mathias.derozario@thomsonreuters.com ;
leo.marchandon@thomsonreuters.com))