April 19, 2017 / 5:45 AM / 4 months ago

TomTom revenues decrease slightly in first quarter

BRUSSELS, April 19 (Reuters) - Digital mapping company TomTom on Wednesday reported a slight decrease in first quarter revenues, as improving sales from built-in navigation products and fleet management systems failed to offset a falling consumer business.

While the group's consumer business remained the largest revenue contributor, falling interest in personal navigation devices (PND) weighed on sales.

Overall, revenues fell 2 percent to 212.7 million euros ($228.06 million) in the first quarter, slightly above the 210 million euros forecast in a company compiled consensus.

TomTom repeated the guidance it gave in February, saying it expected 2017 revenues of between 925 and 950 million euros, with earnings per share of about 0.25 euros.

$1 = 0.9327 euros Reporting by Robert-Jan Bartunek

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