Naspers' half-year profit nearly doubles on strong e-commerce and Tencent performance

Business and Finance Business and Finance

Mon, December 2, 2024

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[ Mon, Dec 02nd 2024 ] - Thomas Matters

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[ Mon, Dec 02nd 2024 ] - Michael Jones

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Naspers' half-year profit nearly doubles on strong e-commerce and Tencent performance

^{Published on 2024-12-02 02:00:49 - Bill Williamson, WOPRAI}

South African technology investor Naspers posted a 90.5% jump in its half-year core headline earnings, driven by accelerated growth and improved profitability of its e-commerce businesses and contribution from China's Tencent .

Naspers, the South African technology investor, reported that its half-year profit nearly doubled, driven by strong performances in its e-commerce sector and its significant stake in Chinese tech giant Tencent. The company's core headline earnings per share rose to 552 U.S. cents from 283 U.S. cents a year earlier. This growth was attributed to a recovery in e-commerce profitability and a robust performance by Tencent, which saw its revenue increase by 10% year-over-year. Naspers also highlighted improvements in its consolidated e-commerce businesses, with a notable increase in trading profit and a reduction in losses. Additionally, the company's CEO, Ervin Tu, expressed optimism about future growth, citing the potential in their diversified portfolio and ongoing investments in technology and innovation.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/naspers-half-year-profit-nearly-doubles-strong-e-commerce-tencent-performance-2024-12-02/ ]

N@N

Naspers' half-year profit nearly doubles on strong e-commerce and Tencent performance