Naspers profit slumps
Naspers on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from China’s Tencent Holdings, which accounts for the bulk of earnings and revenue for the JSE-listed firm.
Its headline earnings per share from continuing operations dropped to US$1.19 for the year ended 31 March, from $5.47 posted a year ago., which has its global investments housed in Amsterdam-listed Prosus, draws over two-thirds of its revenue from Tencent. Its investment in Tencent, where it holds over a quarter of the company, also masks losses Naspers makes on an array of investments spanning 100 countries and businesses ranging from online classifieds to food delivery, fintech to education.It posted revenue of $6.8-billion and its losses from e-commerce businesses including classifieds, fintech and food delivery came to $639-million. —
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A key Eskom metric is showing big improvement - TechCentralEskom has been able to reduce load shedding due to the improvement of the energy availability factor.
Read more »
South Africa's Identification Bill adds to privacy risk - TechCentralThe Free Market Foundation has warned proposed new legislation could pose a threat to South Africans’ right to privacy.
Read more »
Eskom allowed to sidestep pollution rules to ease power cuts - TechCentralEskom has been given permission to bypass pollution abatement equipment at its giant Kusile plant.
Read more »
Musk will train for cage fight with Zuckerberg - TechCentralElon Musk will start training if the mixed martial arts cage fight he has provoked with fellow billionaire mogul Mark Zuckerberg takes shape.
Read more »
YouTube is testing an online gaming offering - TechCentralYouTube is internally testing a product for playing online games, the Wall Street Journal reported.
Read more »
TCS+ | FirstRand's Christoph Nieuwoudt on the AI revolution - TechCentralFirstRand Group’s Christoph Nieuwoudt is a leading expert on AI. He joins Duncan McLeod on TCS+.
Read more »