TomTom raises full-year outlook after Q3 beat By Reuters

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(Reuters) – Dutch navigation and digital mapping company TomTom on Friday raised its 2022 outlook after better-than-expected third-quarter results driven by its location technology business.

The Amsterdam-based firm, whose customers range from major car companies to leading global tech firms, forecast full-year revenue in a range of 505 million to 520 million euros ($494 million to $509 million), with 410 million to 425 million euros from its core location technology business.

The group had previously guided for a revenue of 470-510 million euros, with 380-420 million euros generated from location technology.

($1 = 1.0221 euros)