TomTom tops profit expectations in Q3, boosted by growth in automotive unit


FILE PHOTO: TomTom mapping system is seen inside a vehicle in Eindhoven, Netherlands, November 21, 2019. REUTERS/Eva Plevier/File Photo

(Reuters) -Dutch digital mapping specialist TomTom reported a rise in its third-quarter operating profit on Tuesday, beating market expectations, boosted by growth in its automotive location technology business.

The Amsterdam-based company posted earnings before interest and taxes of 8.4 million euros ($9.7 million) for the quarter, a strong beat against analysts' average estimate of 2 million euros in a company-provided consensus.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Google top India counsel quits in latest departure amid regulatory hurdles, sources say
Uber, Pony.ai and Verne team up to launch Europe's first robotaxi service in Croatia
The EU’s biggest test for device makers: Replaceable batteries
US activists work to connect Iranians via Starlink
New on the iPhone: Shazam songs even when offline with iOS 26.4
First Robot: Melania Trump brings droid to White House event
Why AI means animal testing is not always needed to trial new medicines
Day of reckoning arrives for social media after US court loss
Teens get probation after using AI to create fake nudes of classmates
Revolut to base 40% of its global workforce in India by 2026

Others Also Read