TomTom reports net loss in Q3 on 9% y/y drop in sales
Company enters strategic partnership with LeasePlan
TomTom has reported net loss of EUR5.3 million (USD6.3 million as on 30 September) in the third quarter ended 30 September 2017 compared to net profit of EUR0.6 million a year earlier, the Netherlands-based mapping and location service provider said in a press release on 20 October. The company incurred net loss as its revenue witnessed 9% year-over-year (y/y) decline to EUR217.7 million, primarily due to 29% y/y drop in revenue in Consumer business segment.
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