Prosus Sees Lower Earnings Per Share in Fiscal Year 2023
14 June 2023 - 5:27PM
Dow Jones News
By Anthony O. Goriainoff
Prosus NV said Wednesday that it expects earnings per share to
fall in fiscal 2023 due to reduced contributions from associates,
and Chinese tech giant Tencent in particular.
The Dutch investment group said it expects to report a fall in
core headline earnings per share from continuing operations in the
28% to 21% range, or 68 cents to 50 cents, due to lower
contributions from equity-accounted investments of around $4.1
billion. Tencent--the group's largest equity-accounted
associate--was affected by Covid-19 lockdowns and regulations in
China, it added.
The company added that Tencent has since reported first-quarter
numbers for fiscal 2024 which delivered earnings growth, as it
benefited from China's reopening as well as a stable regulatory
environment and cost reductions.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 14, 2023 03:12 ET (07:12 GMT)
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