April 17, 2018 / 5:21 AM / 10 days ago

Navigation firm TomTom posts higher Q1 core earnings, beats estimate

AMSTERDAM, April 17 (Reuters) - TomTom, 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 ($53.25 million), compared with average expectations of 34 million euros in a company-published poll, unchanged from the first quarter of 2017.

Sales dropped by 10 percent to 192 million euros as the company’s personal navigation device business continued to shrink. ($1 = 0.8076 euros) (Reporting by Toby Sterling, Editing by Sherry Jacob-Phillips)

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