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News: TomTom Beats 2nd Quarter Forecasts

pocketgpsworld.comTomTom have posted a 19.8 million second quarter profit - a 61% fall compared to the same period last year. Although clearly a sharp decline, this still wasn't as bad as some analysts had expected and TomTom's shares surged on the news.

Group revenue was 368 million for the quarter, an increase on the first quarter's 213 million, but a decrease on last year's quarter 2 of 485 million.

There was a sharp decline in dedicated units as expected.

  • Q2 PND Sales 2009: 276 million representing 75% of group revenue in the quarter

  • Q2 PND Sales 2008: 402 million (83%)

  • Q1 PND Sales 2009: 141 million and (66%)


  • The news of lower PND sales were softened by higher sales in other areas such as in-dash navigation, traffic information, and fleet management.

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    Posted on Thursday, July 23 @ 10:07:47 UTC by Rob Brady

     
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