Prosus sees core earnings rise 19%-28% on ecosystem growth

Prosus, Tencent Holdings' largest shareholder, expects core earnings per share to rise as much as 28% in fiscal 2026 on revenue growth across its own businesses.

"The increase reflects growth in revenue and profitability of the businesses Prosus consolidates within its accounts, as well as the contribution of its stake in Tencent," the Amsterdam-listed investor said Friday.

Core headline earnings per share from continuing operations will climb 19% to 28% in the year ended March 31, Prosus said. Revenue from the company's Ecosystem segment — formerly called e-commerce — surpassed $7.3 billion, generating adjusted earnings before interest, taxes, depreciation, and amortization of $1.1 billion. That compares with $6.2 billion in revenue in fiscal 2025. Earnings per share are expected to range between a decline of 2.6% and a gain of 6.4%.

Any EPS growth should be driven primarily by consolidated businesses in Latin America, Europe and India, alongside stronger equity-accounted earnings from Tencent, Prosus said. Those gains are partly offset by a lower contribution from sales of Tencent shares, which the company has continued to gradually reduce while remaining committed as a significant shareholder.

The guidance raise signals that Prosus's own portfolio companies are gaining scale and profitability, reducing the company's reliance on its Tencent stake for earnings growth. Investors will watch the full-year results on June 29 for segment-level margins and any update on the pace of Tencent share sales.

This article is for informational purposes only and does not constitute investment advice.