Navigation specialist TomTom beats quarterly revenue forecast on auto tech sales

(Reuters) - Dutch digital mapping specialist TomTom reported on Tuesday a marginal rise in its first-quarter revenue, beating expectations, supported by a stronger-than-anticipated performance in its automotive location technology business.

 

The Amsterdam-based company posted a revenue of 140.4 million euros ($159.44 million) for the first quarter, above the 136 million euros expected in a company-provided consensus.

 

TomTom also confirmed its full-year outlook.

 

($1 = 0.8806 euros)

 

(Reporting by Mathias de Rozario in Gdansk; Editing by Sherry Jacob-Phillips)