TomTom gains 6% on better-than-expected Enterprise revenue
** Shares in TomTom TOM2.AS rise 6% after the digital mapping specialist's Enterprise unit posted Q3 revenue ahead of expectations, softening a miss at group level
** Q3 group revenue of 140.7 mln euros ($153.9 mln) was slightly below expectations, but Enterprise revenue of 41.7 mln euros beat consensus of 38 mln euros
** "The company is clearly building-up momentum with increased utilization by existing customers, as well as continued commercial traction," ING analyst Marc Hesselink says
** Hesselink adds the misses in group sales and gross profit were not a full surprise given the weak automotive end-markets, while the Enterprise revenue was "much better than expected"
** TomTom's Q3 EBIT loss narrowed to 4.1 mln euros, beating consensus estimate for a loss of 5 mln euros
** The shares are on track for their best day since Sept. 19 in the gains hold
($1 = 0.9144 euros)
Reporting by Mathias de Rozario
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