Naspers Fiscal Year 2023 Earnings Per Share Sank Despite Revenue Growth

   By Christian Moess Laursen 
 

Naspers said Tuesday that revenue rose in fiscal 2023 as e-commerce performed strongly, but that headline earnings fell on lower profitability.

The South African investor--which owns a stake in Chinese tech giant Tencent Holdings through Prosus--said earnings per share fell to $1.97 in the year ending March 31 from $4.2 in fiscal 2022. Headline earnings per share fell to $1.19 from $5.47, while core headline earnings per share fell to $5.07 from $7.03.

Revenue grew to $6.78 billion from $6.29 billion a year prior due to strong revenue growth in iFood, and Payments and Fintech, Naspers said. Its e-commerce unit continued a strong growth trajectory, with revenue rising 19% to $10.75 billion.

Headline earnings fell by $1.3 billion to $249 million due to lower profitability across the group's associates and increased operating losses from our consolidated businesses, Naspers said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

June 27, 2023 02:35 ET (06:35 GMT)

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