Second-quarter profit beat analysts' estimates pushing the stock up as much as 2.95 euros, or 18 percent, to 19 euros. That was the biggest gain since TomTom first sold shares in 2005. Revenue was down due the acquisition of Tele Atlas, things seem rosy: "Despite all the hassle in the financial market, all the bad headlines, people are still buying navigation devices,'' Chief Executive Officer Harold Goddijn said.
- Bloomberg
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TomTom Beats Q2 Estimates, Stock Jumps
Posted: July 22nd, 2008, 2:48pm CEST
Tags: Geospatial business