Naspers Reports 59% Profit Surge on E-Commerce, Tencent Growth

Naspers has reported a significant turnaround in its financial performance for the fiscal year ending March 31, 2025, with core headline earnings surging by 59.4% to $3.1 billion and revenues increasing 20% to $7.2 billion. This growth was driven primarily by the improved profitability of its global e-commerce portfolio, including strong performances from iFood, OLX, PayU India, and iyzico, alongside continued robust contributions from its 31% stake in Tencent. CEO Fabricio Bloisi highlighted that Naspers is focusing on becoming an AI-first company, investing heavily in artificial intelligence to enhance operational efficiency, accelerate innovation, and build a high-impact e-commerce ecosystem. The company's e-commerce adjusted gross profits reached $443 million, enabling a $1 billion swing into free cash flow and supporting an ongoing share buyback program. Naspers' evolution from a South African newspaper publisher to a global tech investment powerhouse continues to deliver strong results, with Tencent remaining a vital financial backbone despite partial divestments. The group aims to substantially grow its e-commerce contributions in the year ahead, signaling confidence in sustained transformative growth.