TomTom revenue falls 5.8% as it plans 200 job cuts
TomTom’s third-quarter 2026 revenue fell 5.8% year over year to €128.9 million, missing forecasts, while net income declined to €5.1 million from €9.1 million a year earlier. Its shares fell 5% after the results, despite the company remaining profitable and raising its 2026 operating-margin forecast to about 4%. TomTom plans to cut roughly 200 jobs, targeting about €21 million in annual savings, as it focuses on automated driving and AI-powered location products that it expects to support revenue growth from 2027. Weak automotive revenue and the challenge of replacing winding-down programs remain concerns, while the company’s €239 million net cash position offers financial support.
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