TomTom reports better-than-expected third-quarter core earnings

AMSTERDAM (Reuters) – TomTom (TOM2.AS), the Dutch maker of digital mapping software, on Tuesday reported better-than-expected third-quarter core earnings of 62.4 million euros ($72.2 million), compared with 35.5 million euros a year earlier.

FILE PHOTO: TomTom navigation are seen in front of TomTom displayed logo in this illustration taken July 28, 2017. REUTERS/Dado Ruvic

Company-compiled consensus had seen earnings for the quarter before interest, taxes, depreciation and amortization (EBITDA) at 41 million euros.

The company raised its full-year revenue outlook to 850 million euros from 825 million euros, but said a contract announced in 2016 to provide location and navigation services to Volvo had been ended.

Reporting by Toby Sterling; Editing by Subhranshu Sahu

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