(Reuters) – Digital mapping specialist TomTom reported a wider than expected second-quarter operating loss on Monday, hit by lower revenue in its automotive location technology and consumer divisions, and suspended its outlook for 2025.
The Amsterdam-based company said it would not meet its 2025 guidance, and that it would provide new targets for next year when it reports 2024 full-year results.
TomTom posted a loss before interest and taxes of 5.2 million euros ($5.7 million) for the second quarter of 2024, versus a loss of 3.6 million euros in the same period a year earlier.
Analysts on average were expecting a loss of 4 million euros, a company-compiled consensus showed.
($1 = 0.9179 euros)
(Reporting by Mathias de Rozario and Leo Marchandon in Gdansk; editing by Milla Nissi)
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