TomTom reports USD51.2 million net income in FY2018 despite lower sales
Automotive and Enterprise segment revenue grow by 12% y/y
TomTom has reported net income or EUR44.8 million (USD51.2million) for the financial year ended 31 December 2018 compared to net loss of EUR194.4 million for the previous financial year, the Netherlands-based mapping and location services provider said in a press release on 6 February. TomTom recorded operating income of EUR55.5 million against operating loss of EUR186 million in 2017. The company returned to profitability in 2018 despite witnessing 5% year-over-year (y/y) drop in total revenue to EUR860.6 million.