Tencent will remain Naspers driver despite earnings drop, says analyst
Media group expects its key performance metric to fall due to pandemic’s effect on Chinese giant
14 June 2023 - 09:15
UPDATED 14 June 2023 - 19:59
Despite Naspers losing as much as R36bn in market capitalisation after flagging a drop in its key performance metric early on Wednesday, market players still say China’s Tencent, a big reason for the profit drop, will remain a key driver for the group.
SA’s largest listed company flagged a huge drop in earnings in its next annual results due to lower profitability of its equity-accounted associates — entities over which a company has significant influence but does not control — such as Chinese internet giant Tencent...
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