Naspers Ltd

OTC Pink - Current Information:NPSNYUnited States

Nov 18, 2024

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• DJ Tencent Shareholder Naspers Expects Higher Performance, Driven By Growth -- Update, from 3:37AM ET on Monday Nov 18, 2024 by Dow Jones

  3:37AM ET on Monday Nov 18, 2024 by Dow Jones
  Companies Mentioned: NPSNY
  By Najat Kantouar Naspers expects its first-half performance to be boosted by its investment in Chinese technology giant Tencent, together with accelerated growth, improved profitability in its Ecommerce segment and other equity-accounted investments. The South African investor--which owns a 26% stake in Tencent Holdings through Prosus--said Monday that for the six months ended Sept. 30 core headline earnings per share are expected to increase between 87.2% and 93.8% to between 396 U.S. cents and 426 cents. Headline EPS are expected to be between 321 cents to 341 cents. Both figures are on a continuing operation basis and exclude the gains relating to the selldown of Tencent and impairment charges. The group said it still expects to deliver sustained growth helped by investment in AI tools in its technology ecosystem. Separately, Naspers' Amsterdam-listed subsidiary company Prosus--which owns a roughly $114 billion stake in Tencent--said it expects core headline EPS for the same period to rise 84%-93% to between 64 cents and 71 cents. Headline EPS are expected to increase between 93%-102% to 50 cents to 55 cents. Naspers spun out its international tech investments to form Prosus and listed the company in Amsterdam in 2019 in an attempt to reduce the valuation gap. Prosus and Naspers have been buying back their own stock through an open-ended program that they fund through small sales of Tencent stock. In early European trading, Prosus shares are up 2.2%, or 0.84 euros, at 38.59 euros. They are currently 43% higher over the year to date. Write to Najat Kantouar at najat.kantouar@wsj.com (END) Dow Jones Newswires November 18, 2024 03:37 ET (08:37 GMT)

• *DJ NASPERS LIMITED Sees 1H Trading Above Views, from 1:31AM ET on Monday Nov 18, 2024 by Dow Jones

  1:31AM ET on Monday Nov 18, 2024 by Dow Jones
  Companies Mentioned: NPSNY
  
  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.