Tencent boosts Prosus profit, e-commerce trading loss widens

Tencent boosts Prosus profit, e-commerce trading loss widens

Tencent boosts Prosus profit, e-commerce trading loss widens

Information about Tencent boosts Prosus profit, e-commerce trading loss widens

Kevin David Scam or Legit


By Toby Sterling and Promit Mukherjee
AMSTERDAM/JOHANNESBURG (Reuters) – Prosus, which owns a $175 billion minority stake in Chinese internet gaming and social media group Tencent, posted an 8% rise in first-half trading profit to $2.9 billion as revenue rose rapidly in its overall portfolio.
Sometimes compared to SoftBank and its Vision Fund, Prosus NV, owns stakes in a wide range of consumer internet companies, with returns from Tencent Holdings dominating its overall performance.
Although its net profit spiked after Prosus booked a one-time profit of $12.3 billion on the sale of part of its Tencent stake, operating losses at businesses it controls increased.
Prosus said in a statement on Monday that revenues at its e-commerce portfolio had risen by 53% to $4.2 billion, while that segment’s trading …

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