Prosus Swings to Profit in First Half After Asset Sales

Bloomberg2024-12-02

(Bloomberg) -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa. Group adjusted earnings before interest and taxes totaled $...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2488968087?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/LiMlYanMbM2Zuqe.bD5LlA--~B/aD0yNjY4O3c9NDAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/d17600212fa7ba05bc8f8ab5a150562f","is_english":true,"pubTime":"2024-12-02 21:16","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2488968087","market":"us","top_or_hot":-1,"title":"Prosus Swings to Profit in First Half After Asset Sales","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa.\nGroup adjusted earnings before interest and taxes totaled $...</p>\n\n<a href=\"https://finance.yahoo.com/news/prosus-swings-first-half-profit-063928144.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prosus Swings to Profit in First Half After Asset Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProsus Swings to Profit in First Half After Asset Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-02 21:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/prosus-swings-first-half-profit-063928144.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa.\nGroup adjusted earnings before interest and taxes totaled $...</p>\n\n<a href=\"https://finance.yahoo.com/news/prosus-swings-first-half-profit-063928144.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PROSF","symbol_name":"Prosus NV","start_time":0,"source_url":"https://finance.yahoo.com/news/prosus-swings-first-half-profit-063928144.html","article_id":"2488968087","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/LiMlYanMbM2Zuqe.bD5LlA--~B/aD0yNjY4O3c9NDAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/d17600212fa7ba05bc8f8ab5a150562f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488968087","pubTimestamp":1733145372,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa.“We have about $10 billion available to deploy,” said Prosus President and Chief Investment Officer Ervin Tu in an interview. Prosus is spending a lot of time assessing investments in areas it’s already active in, including marketplaces, food delivery and fintech, “and AI is an important supporter of all of that,” he added.The Euronext-listed technology firm will invest in AI across its businesses but will consider writing “larger checks” to companies operating in its ecosystem, Tu said. India is one of the more attractive growth markets, he added.There are “many more IPOs coming” in India after last month’s Swiggy listing, he added.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PROSF":"Prosus NV","PROSY":"Prosus NV"},"translate_title":"Prosus出售资产后上半年扭亏为盈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PROSF":0.9,"PROSY":0.9},"content_text":"(Bloomberg) -- Prosus NV reported a first-half profit as the technology investor sold stakes in online businesses in China and South Africa.\nGroup adjusted earnings before interest and taxes totaled $60 million in the six months through end-September from a loss a year earlier, the Amsterdam-based company said in a statement Monday. The group sold more than $2 billion of assets during the period, including exiting its Trip.com position in China. \n“We have about $10 billion available to deploy,” said Prosus President and Chief Investment Officer Ervin Tu in an interview. Prosus is spending a lot of time assessing investments in areas it’s already active in, including marketplaces, food delivery and fintech, “and AI is an important supporter of all of that,” he added.\nThe Euronext-listed technology firm will invest in AI across its businesses but will consider writing “larger checks” to companies operating in its ecosystem, Tu said. India is one of the more attractive growth markets, he added.\nProsus was spun out from Cape Town-headquartered Naspers Ltd. and listed in Amsterdam about five years ago. Through Naspers, the company made a blockbuster investment in Tencent in 2001, when it paid $34 million for a 50% stake. Today, it owns about a quarter of the company, which has a market value of about $480 billion. The group’s investment in the Chinese tech giant has distorted Prosus’s stock price and created a gap between the value of the stake and the rest of the group’s businesses.\nThe Prosus team has invested in emerging market technology companies searching for the next Tencent. It has sold stakes in several of those bets in e-commerce recently. On top of the Trip.com sale, the group sold South African online fashion retailer Superbalist, and it has agreed to sell its Romanian food delivery company Tazz. \nIn November, after the period, Prosus sold down shares worth more than $500 million in the initial public offering of Indian food delivery company Swiggy Ltd. The group also removed a complicated shareholder structure last year, when the previous Chief Executive Officer Bob van Dijk left, and made way for Fabricio Bloisi to take over. \nBloisi said on Bloomberg TV that Prosus has managed to simplify its structure substantially and plans to double the value of of the company in the next four years. “My focus is on how am I going to create $100 billion in additional value in India, in Europe, in Latin America.”\nThere are “many more IPOs coming” in India after last month’s Swiggy listing, he added.\nDuring the period, group revenue was up 26% and adjusted Ebit for its e-commerce portfolio increased five times to $181 million. An ongoing buyback program has created $36 billion of value since it started, the company said in the statement. “We expect $6.2 billion in revenues for the full year, we expect to continue to grow ahead of 20% on an organic basis,” interim Chief Financial Officer Nico Marais said in an interview.  \nThe Naspers chief executive officer in South Africa, Phuti Mahanyele-Dabengwa, has also been nominated to join the Prosus and Naspers boards as executive director.  \nProsus shares rose about 2.7% to €39.59 at 2:13 p.m. in Amsterdam on Monday after closing at €37.91 on Friday.\n--With assistance from Anna Edwards and Guy Johnson.\n(Updates with comments from CEO on Bloomberg TV and shares)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488968087"}