TomTom Reports Better-Than-Expected 2Q Results; Maintaining FVE of EUR 8
TomTom's second-quarter revenue came in slightly above our expectation and easily beat the consensus estimate. With gross margin expansion, the firm’s bottom-line results also beat expectations. While management maintained its full-year 2017 EPS guidance, it does expect revenue to come in at the low end of its previous guidance because of continuing weakness in the consumer segment driven not only by a secular decline in personal navigation devices, but also because of the commoditization of con...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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