Bloomberg News

TomTom Has Profit of 28.9 Million Euros, Plans to Cut Jobs

October 24, 2011

Oct. 24 (Bloomberg) -- TomTom NV, Europe’s biggest maker of portable navigation devices, had third-quarter net income of 28.9 million euros. The average estimate was for 15.9 million euros of profit in a Bloomberg survey of seven analysts.

“We expect to deliver full-year results towards the upper end of our guidance for revenue earnings per share,” the Amsterdam-based company said today.

TomTom also said it aims for 50 million euros in savings and plans jobcuts.

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To contact the editor responsible for this story: Martijn van der Starre at vanderstarre@bloomberg.net


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