For years Prosus was, in effect, a single bet wearing the costume of a diversified investor: a sprawling portfolio whose value rose and fell with one Chinese asset. Its latest results suggest the costume is becoming the company.
Prosus reported revenue of about $7.3bn for the financial year ended 31 March 2026 and roughly $1.1bn in what it now calls ecosystem adjusted EBITDA, the profit measure for its consolidated e-commerce businesses.
Headline earnings per share from continuing operations grew between 91% and 100% on the year, the company said, a near doubling driven both by its own operations and by stronger results from its Tencent holding. The figures were published on 29 June.
The doubling is the headline, but the more interesting number is the mix. Core headline earnings per share for continuing operations rose by a steadier 19% to 28%, which is the figure that strips out the swings in the Tencent stake and measures the underlying businesses. Both readings point the same way. The e-commerce arm is now generating real profit rather than promising it.
That arm is built largely on food delivery and classifieds. Prosus owns iFood, Latin America’s largest food-delivery platform, and OLX, the classifieds network, and the two have been the engines of its profitability turn.
