TomTom Beats 2nd Quarter Forecasts
Date: Thursday, July 23 @ 10:07:47 UTC
TomTom 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.
Click here to read more...
Click here to discuss...