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Navigation firm TomTom posts higher first-quarter core earnings, beats estimate

Published 17/04/2018, 06:19
© Reuters. FILE PHOTO: TomTom navigation are seen in the car in this illustration taken
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AMSTERDAM (Reuters) - TomTom (AS:TOM2), the Dutch navigation and mapping company, reported on Tuesday better-than-expected first-quarter core earnings, despite a decline in sales.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 43 million euros (£37.1 million), compared with average expectations of 34 million euros in a company-published poll, unchanged from the first quarter of 2017.

© Reuters. FILE PHOTO: TomTom navigation are seen in the car in this illustration taken

Sales dropped by 10 percent to 192 million euros as the company's personal navigation device business continued to shrink.

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