TomTom suspends 2025 targets after wider Q2 operating loss

Digital mapping specialist TomTom reported a wider than expected second-quarter operating loss on Monday, hit by lower revenue in its automotive location technology and consumer divisions, and suspended its outlook for 2025.

The Amsterdam-based company said it would not meet its 2025 guidance, and that it would provide new targets for next year when it reports 2024 full-year results.

TomTom posted a loss before interest and taxes of 5.2 million euros ($5.7 million) for the second quarter of 2024, versus a loss of 3.6 million euros in the same period a year earlier.

Analysts on average were expecting a loss of 4 million euros, a company-compiled consensus showed.