TeleNav (TNAV) Tops Q1 EPS by 4c, Slight Miss on Revenues; Offers 2Q19 Revenue Outlook

TeleNav (NASDAQ: TNAV) reported Q1 EPS of ($0.18), $0.04 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $52.17 million versus the consensus estimate of $52.49 million.

“In the quarter, Telenav gained significant traction in North America as our hybrid navigation products and services launched on more General Motors models,” said HP Jin, Chairman and CEO of Telenav. “GM became a significant customer, representing approximately 13% of revenue and 17% of billings during the quarter. Over the course of fiscal 2019, we expect that our hybrid navigation products and services will launch on more GM models and further expand the geographic reach of our GM relationship. Worldwide, we have deployed 10.6 million vehicles capable of connected service to date, reflecting our ability to partner with automotive manufacturers to help them improve consumer brand loyalty and experience.”

GUIDANCE:

TeleNav sees Q2 2019 revenue of $51-55 million, versus the consensus of $54.75 million.

For earnings history and earnings-related data on TeleNav (TNAV) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c