UPDATE 2-Navteq posts higher quarterly profit, raises '07 view

(Adds analysts' comments, background)

By John Tilak

BANGALORE, Oct 31 (Reuters) - U.S.-based digital map supplier Navteq NVT.N, which agreed to be acquired by Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) for $8.1 billion, posted a 47 percent rise in quarterly profit driven by strength in international operations, and raised its full-year view.

The map market for personal navigation devices, one of the fastest-growing segments in the consumer electronics space, has been consolidating with top navigation devices makers Garmin (GRMN.O: Quote, Profile, Research, Stock Buzz) and TomTom (TOM2.AS: Quote, Profile, Research, Stock Buzz) locked in a bidding war for Navteq's rival Tele Atlas TA.AS.

Third-quarter net income for Navteq, which supplies maps to Garmin, rose to $39.9 million, or 40 cents a share, from $27.1 million, or 28 cents a share, a year ago. Revenue rose 51 percent to $214.8 million.

Revenue from its Europe, Middle East & Africa operations rose 42 percent to $120.5 million.

Analysts expected earnings of 30 cents a share, excluding exceptional items, on revenue of $195.6 million, according to Reuters Estimates.

For 2007, Navteq expects earnings of $1.50 to $1.55 a share on revenue of $815 million to $825 million. In July, it had forecast earnings of $1.45 to $1.50 a share on revenue of $780 million to $795 million.

Analysts were expecting earnings of $1.55 a share on revenue of $798.9 million.