TomTom Q3 net profit beats, lifts full-year outlook

Wed Oct 30, 2013 2:56am EDT

AMSTERDAM Oct 30 (Reuters) - TomTom, Europe's largest maker of navigation devices, beat forecasts for third-quarter net profit on Wednesday and raised its full-year outlook.

Revenue this year will be at the top end of the range of 900 million to 950 million euros, it said, while adjusted earnings per share are seen at around 0.25 euros, compared with a previous forecast of 0.20 euros.

TomTom, among the three biggest digital map-makers in the world, reported a quarterly net profit of 11 million euros ($15.2 million), down 49 percent from a year ago, and revenue of 244 million euros, down 11 percent, reflecting the weak state of the car market in Europe.

Analysts in a poll commissioned by Reuters had expected net profit of 6.02 million euros on revenue of 245 million euros.

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