Prosus Reports Sharp Surge in Half-Year Net Profit Driven by Tencent Earnings

Tencent’s major shareholder Prosus delivered a strong half-year report on Monday, with net profit climbing sharply from $4.59 billion a year earlier to $5.63 billion. While the company’s global e-commerce portfolio continued to show robust growth, Prosus’ financial performance remains heavily tied to Tencent. A tactical sale of just 1% of Tencent’s shares generated $3.3 billion in one-off gains, significantly boosting overall profit.

Revenue rose from $2.96 billion to $3.62 billion, surpassing market expectations. The increase was driven by the expansion of Prosus’ e-commerce ecosystem, including strong results from Latin America’s food delivery platform iFood, Europe’s classifieds marketplace OLX, and Indian payment firm PayU. The core e-commerce segment’s adjusted EBITDA jumped 70% to $530 million, reflecting a gradual strengthening of non-Tencent earnings power.

Despite efforts to diversify, Tencent remains the anchor asset on Prosus’ balance sheet. As of last Friday’s close, Prosus’ Tencent holdings were valued at $163.5 billion. In addition to Tencent’s solid earnings contribution, the selective share sell-down played a major role in the profit surge.

The company reaffirmed its fiscal 2026 outlook:

• E-commerce revenue expected to reach $7.3–7.5 billion
• Adjusted EBITDA targeted at $1.1–1.2 billion