TomTom raises full-year outlook after better-than-expected Q3, Company News


TomTom raises its full-year outlook after a better than expected Q3 | Photo credits: TomTom

Oct 14 (Reuters) – Dutch digital navigation company TomTom raised its 2022 outlook on Friday after better-than-expected third-quarter results, driven by its location-based technology business.

The Amsterdam-based company, whose customer base includes both major automakers and some of the world’s leading high-tech companies, now expects annual revenue of between 505 million and 520 million euros, of which 410 million to 425 million euros for its core location technology business.

In February, TomTom said it expected a turnover of between 470 million and 510 million euros, including 380 million to 420 million euros for location technology. (Report Federica Mileo and Augustin Turpin, edited by Marc Angrand)

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