October 16, 2019 / 5:37 AM / a month ago

TomTom Q3 core earnings beat analyst expectations

Oct 16 (Reuters) - Dutch mapping and navigation company TomTom reported on Wednesday third-quarter core earnings above analysts’ expectations and reiterated its outlook.

The Amsterdam-based company, which is moving away from selling devices to software as a service (SaaS), reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 15.9 million euros ($17.54 million), compared to 43.8 million euros a year earlier.

Analysts in a poll compiled by the company had expected an EBITDA of 8 million euros. ($1 = 0.9065 euros) (Reporting by Charles Regnier; Editing by Muralikumar Anantharaman)

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