Latest news with #digitalmapping
CNA
20 hours ago
- Automotive
- CNA
TomTom lifts floor of 2025 guidance as automotive business drives Q2 beat
Dutch digital mapping specialist TomTom lifted the bottom end of its 2025 revenue guidance on Tuesday, after a better than expected performance in its core automotive business helped it beat market estimates in the second quarter. The location data pioneer, which started by providing a navigational tool for turn-by-turn directions, has gone through major restructuring and is now developing high-definition self-driving maps that integrate consumer data and advanced driver assistance systems. Its revenue fell 4 per cent to 146.2 million euros ($170.8 million) in the second quarter, but beat the 145 million analysts had expected on average, aided by a smaller than expected drop in the automotive location technology business. "The resilience of our customers is to thank for a relatively okay result for this quarter," CEO Harold Goddijn told Reuters. TomTom's shares spiked as much as 10.9 per cent in early trading and were up 2.3 per cent by 0730 GMT. Goddijn said the group had managed to reduce its cycle time — the time it takes between signing a contract and starting to deliver the products — by standardizing its product portfolio. In late June, TomTom said it would cut 300 jobs as part of an organizational realignment, including wider use of artificial intelligence in its processes, as it implements a new product-led strategy. It had around 3,600 employees at the end of 2024. "It will take a couple of months before we start seeing the results filtering through in the profit and loss account, but in 2026, most of the effects will be fully realized," Goddijn said. He said TomTom was using or working to implement AI in its map-making process, programming and AI-based solutions it was developing. It forecast annual revenue of 535-565 million euros, after previously projecting the lower end of the range at 505 million. Revenue in the location technology arm should reach 465-490 million euros, it said, raising the bottom end by 25 million.
CNA
21 hours ago
- Automotive
- CNA
TomTom lifts floor of 2025 guidance as automotive sales drive Q2 beat
Dutch digital mapping specialist TomTom lifted the bottom end of its 2025 revenue guidance on Tuesday, after a better than expected performance in its core automotive business helped it beat market estimates in the second quarter. The location data pioneer, which started by providing a navigational tool for turn-by-turn directions, has gone through major restructuring and is now developing high-definition self-driving maps that integrate consumer data and advanced driver assistance systems. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) this year, compared with the previous forecast of 505-565 million euros. TomTom's revenue fell 4 per cent to 146.2 million euros in the second quarter, but beat the 145 million euros analysts had expected in a company-provided consensus, aided by a smaller than expected drop in the automotive location technology business. CEO Harold Goddijn said in a statement the automotive business continued to battle industry uncertainties in the quarter, while underlying growth in location tech for enterprises was more than offset by unfavourable exchange rate movements. "We remain confident about our market position," he added, however. "In the second quarter, our maps were selected to support complex field service operations, optimize logistics, improve infrastructure investments, and more." The group expects its location technology revenue, which includes the automotive and enterprise businesses, to be in a 465-490 million euro range in 2025, versus an earlier forecast of 440-490 million euros. It sees a free cash flow at around 5 per cent of the group revenue, after previously guiding it at break-even.
CNA
a day ago
- Automotive
- CNA
TomTom lifts floor of 2025 guidance after positive half-year results
Dutch digital mapping specialist TomTom lifted the bottom end of its full-year revenue guidance range on Tuesday, saying its results in the first half of 2025 were better than it had initially expected despite market headwinds. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) in 2025, compared with the previous forecast of 505-565 million euros. It posted a group revenue of 146.2 million euros in the second quarter, above the 145 million euros expected on average in a company-provided consensus, aided by better than expected results in its automotive business. "We remain confident about our market position. In the second quarter, our maps were selected to support complex field service operations, optimize logistics, improve infrastructure investments, and more," CEO and co-founder Harold Goddijn said in a press statement.
CNA
a day ago
- Business
- CNA
TomTom raises 2025 guidance after positive half-year results
Dutch digital mapping specialist TomTom raised its full-year revenue outlook on Tuesday, saying its results in the first half of 2025 were better than it had initially expected despite market headwinds. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) in 2025, compared with the previous forecast of 505-565 million euros. ($1 = 0.8564 euros)
Yahoo
a day ago
- Business
- Yahoo
TomTom raises 2025 guidance after positive half-year results
(Reuters) - Dutch digital mapping specialist TomTom raised its full-year revenue outlook on Tuesday, saying its results in the first half of 2025 were better than it had initially expected despite market headwinds. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) in 2025, compared with the previous forecast of 505-565 million euros. ($1 = 0.8564 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
