TomTom Posts Mixed 2Q Results; Increasing FVE to EUR 8.50 and Changing Moat Trend to Negative
TomTom reported mixed second-quarter earnings, as top-line growth persisted in its location technology segment paired with flattish growth in the consumer segment. Profitability, on the other hand, suffered as the company looks to spend more on mapmaking efficiency after selling off its telematics division in the quarter. Considering TomTom’s near-term prospects in location technology and opportunities to win contracts for high-definition maps, we’ve increased our revenue forecast for the compan...TomTom develops and sells of navigation and location-based solutions, which include among others, Portable Navigation Devices, sport watches, maps, traffic, navigation software and fleet management services. As of Dec 31 2014, Co. had four segments: Consumer business, which is focused on creating location-based products; Automotive business, which provides modular components, being maps, traffic and navigation software, to car manufacturers and head unit vendors; Licensing business, which sells TomTom map, traffic and navigation software as well as cloud-based products and platforms; and Telematics business, which provides fleet management solutions for commercial fleets of any size.
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