TomTom delivered a stronger-than‑expected profit in the third quarter, thanks to a surge in sales from its automotive division. The GPS‑and‑maps maker posted a net income of €92 million—well above the €80 million analysts had forecast—while total revenue climbed 12 % to €370 million.
The lift came almost entirely from the automotive segment, where demand for in‑vehicle navigation systems and connected‑car services has accelerated. TomTom’s new in‑car software upgrades and higher‑volume deliveries to car makers helped push the automotive unit’s revenue up 18 % year over year.
Investors welcomed the results, noting that TomTom’s focus on subscription‑based map updates and real‑time traffic data is paying off. After the April earnings call, the company’s shares rose 3.5 %, and market analysts updated their forecasts upward, projecting continued growth for the remainder of the year.
TomTom CEO Laurent Poirier said the quarter underscored the company’s “strong positioning in the automotive market” and highlighted plans to expand its data‑driven services for connected vehicles. With the auto unit driving the jump, analysts expect the company to maintain its upward trajectory and generate solid cash flow into next year.
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