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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD (0700)
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325.8 HKD   -3.04%
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Naspers Expects Fiscal Year 2018 Earnings to Soar on Tencent Stake Sale -- Update

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06/13/2018 | 03:52pm CEST

By Adria Calatayud

Naspers Ltd. (NPN.JO) said Wednesday that it expects earnings per share for fiscal 2018 to soar after it reduced its stake in Chinese tech giant Tencent Holdings.

The South African media and internet company said it estimates earnings per share of between $26.08 and $26.56 for the year ended March 31. This compares with EPS of $5.48 for fiscal 2017, which has been adjusted from the $6.77 Naspers originally reported to reflect a change in the company's accounting policy. This growth is due to the one-off gain from the disposal of a portion of the Tencent shares owned by Naspers, the company said.

Core headline EPS--the company's preferred earnings measure, which strips out non-recurring and non-operational items--for fiscal 2018 is expected at between $5.73 and $5.90, Naspers said. This would represent a 70% to 75% growth compared with a core headline EPS of $3.37 for fiscal 2017 after a restatement to reflect the company's new accounting policy.

In March, Naspers sold shares worth more than $10 billion as it reduced its stake in Tencent to 31.2% from 33.2%, in the company's first disposal of stock in the Chinese company since Naspers took a stake in 2001.

The company will publish its full fiscal 2018 results on June 22.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
NASPERS LIMITED 2.79% 3146.14 End-of-day quote.-10.27%
TENCENT HOLDINGS LTD -3.04% 325.8 End-of-day quote.-20.11%
TENCENT HOLDINGS LTD --End-of-day quote.
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Financials (CNY)
Sales 2018 328 B
EBIT 2018 102 B
Net income 2018 84 659 M
Finance 2018 66 453 M
Yield 2018 0,32%
P/E ratio 2018 32,98
P/E ratio 2019 26,21
EV / Sales 2018 8,15x
EV / Sales 2019 5,95x
Capitalization 2 740 B
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 405  CNY
Spread / Average Target 42%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LTD-20.11%406 935
NETFLIX67.97%146 963
NASPERS LIMITED-10.27%94 356
IQIYI INC0.00%20 148
WEIBO CORP (ADR)-28.51%17 147
IAC/INTERACTIVECORP51.47%15 898