Tencent Shareholder Prosus Expects Lower Earnings on Smaller Share Sale
By David Sachs
Tencent shareholder Prosus expects earnings for fiscal 2024 to fall significantly due to smaller gains from a sale of part of its stake in the Chinese tech company.
The Amsterdam-listed company said Wednesday that it forecasts earnings per share from continuing operations to fall between 22% and 29%--or between $0.77 and $1.03--for its fiscal year ended in March because of a smaller share selloff compared to the previous year.
Still, Prosus forecasts core headline earnings per share, an adjusted metric, to rise between 91% and 98%, or between $0.90 and $0.97. Better profitability in its e-commerce business and investments, including Tencent, where it is the top shareholder, will drive the performance, Prosus said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 11, 2024 12:41 ET (16:41 GMT)
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