By Najat Kantouar
Naspers said it expects higher earnings per share for its first half driven by accelerated growth and improved profitability in its Ecommerce segment and equity-accounted investments, in particular Tencent.
The South African investor--which owns a 26% stake in Chinese tech giant Tencent Holdings through Prosus--said Monday that for the six months ended Sep. 30 core headline earnings per share and headline earnings per share for continuing operations are expected to increase between 87.2%-93.8% and 103.2%-109.6%, respectively.
This excludes the gains relating to the selldown of Tencent and impairment charges impacting earnings per share.
The group still expects to deliver sustained growth by accelerating its execution and innovation, investing with an AI-first mindset and leveraging the potential of the group's technology ecosystem, it added.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
11-18-24 0208ET