(Reuters) – Digital mapping specialist TomTom said on Wednesday its operating result turned to a bigger than expected loss in the first quarter, weighed down by an increase in R&D expenses.
The Amsterdam-based company posted a loss before interest and taxes of 4.9 million euros ($5.2 million) for the first three months of 2024, versus a profit of 2.6 million euros last year.
Analysts were expecting a loss of 2 million euros on average, a company-compiled consensus showed.
($1 = 0.9414 euros)
(Reporting by Mathias de Rozario and Gaëlle Sheehan in Gdansk; editing by Milla Nissi)
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