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TomTom Q2 results down but not out
Article by: Darren Griffin
Date: 25 Jul 2013
TomTom have published better than expected second quarter of 2013 earnings.
Overall group and consumer revenue both decreased by 4% and automotive revenue fell by 13%. Licensing revenue was flat and, perhaps surprisingly, revenue from PND sales has not fallen but remains flat.
On a positive note, TomTom's business solutions revenue grew 13% and now has more than 269,000 subscribers.
TomTom reported a net profit of 8.65 million euros, a fall of 14% compared with the 10.46 million euros reported for the same period in 2012, and revenue of 250 million euros, down from 261 million euros last year. Gross margin decreased by 1%.
Source: corporate.tomtom.com
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Posted by dhn on Thu Jul 25, 2013 9:44 am
