Business
Prosus nearly doubles profit in H1 on strong e-commerce, Tencent growth
Global Banking & Finance Review®
Company
JOHANNESBURG (Reuters) – Dutch technology investor Prosus NV reported on Monday an 89.5% jump in core
JOHANNESBURG (Reuters) – Dutch technology investor Prosus NV reported on Monday an 89.5% jump in core headline earnings during its half year, driven by accelerated growth and improved profitability of its e-commerce businesses and China’s Tencent.
Prosus, majority-owned by South Africa’s Naspers, said core headline earnings per share (HEPS) from continuing operations rose to 144 U.S. cents in the six months ended Sept. 30, up from 76 U.S. cents.
(Reporting by Nqobile Dludla; Editing by Jacqueline Wong)
Core headline earnings refer to a company's profits derived from its ongoing operations, excluding one-time items or non-recurring expenses, providing a clearer picture of its financial performance.
E-commerce is the buying and selling of goods and services over the internet, allowing businesses to reach customers globally and operate without physical storefronts.
Tencent is a Chinese multinational conglomerate holding company with subsidiaries in various internet-related services and products, entertainment, AI, and technology.
Investment involves allocating resources, usually money, in order to generate income or profit, typically through purchasing assets like stocks, bonds, or real estate.
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