TomTom’s Q2 loss widens as inflation, supply chain issues weigh

TomTom logo is seen on a vehicle in Eindhoven, Netherlands, November 21, 2019. REUTERS/Eva Plevier

July 15 (Reuters) – Dutch navigation and digital mapping company TomTom (TOM2.AS) on Friday reported worse-than-expected loss for the second quarter, citing high inflation and strained supply chains.

The Amsterdam-based company, whose customers range from major carmakers to leading global tech firms, posted quarterly operating loss of 55.5 million euros ($55.7 million), against analysts’ average forecast for loss of 20 million euros.

($1 = 0.9972 euros)

Reporting by Federica Mileo and Augustin Turpin in Gdansk; editing by Milla Nissi

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