TomTom Reports 53% Surge In Q3 Net Income

TomTom NV TMOAF reported a 53% rise in its Q3 net income. TomTom's quarterly profit surged to 29 million euros, or €0.13 euro per share, from €19 million, or €0.09 euro per share, in the year-ago period. Its adjusted profit per share came in at €0.18. TomTom's revenue dropped to €336 million from €375 million. For the year, TomTom projects adjusted profit of €0.25 to €0.3 euro per share on revenue of €1.23 billion to €1.28 billion.