Dutch digital mapping specialist TomTom posts smaller-than-expected Q2 operating loss, ups outlook

Digital mapping specialist TomTom on Monday increased its outlook for this year's revenue and free cash flow after reporting a smaller-than-expected operating loss for the second quarter, citing the good performance of its location technology division.

The Amsterdam-based company, whose customers include Volkswagen, Hyundai and Amazon, now targets revenue of between 570-600 million euros ($640.00-$673 million)this year after previously forecasting 540-580 million.

It reported a loss before interest and taxes (EBIT) of 3.6 million euros for the second quarter versus a company-compiled forecast of a 7 million euros loss.