AMSTERDAM, July 24 Dutch navigation equipment
maker TomTom on Thursday raised its outlook after
reporting a 15 percent rise in net profit as sales of its
personal navigation and its sport devices held up well.
TomTom said it expected revenues in 2014 to reach at least
925 million euros ($1.24 billion), up from a guidance of around
The company also said earnings per share would be at least
0.25 euros compared with earlier guidance of 0.20 euros.
TomTom has now raised its outlook twice this year.
The company, which has been hit over the past half-decade by
the rise of smartphones with integrated mapping capabilities,
outperformed analyst expectations for revenue and net profit.
Revenues of 252 million euros in the first quarter were
ahead of the 237 million euros forecast on average by analysts
in a Reuters poll.
Net profit of 9 million euros topped the 3.75 million
forecast by analysts.
($1 = 0.7439 Euros)
(Reporting by Thomas Escritt; editing by Jason Neely)