For years, investors looked to Tencent, a Chinese technology giant, for almost all of Prosus’s value while its e-commerce businesses burned cash. Now, the technology investor with deep South African roots says that era may be ending.
In results released on Monday, Prosus reported that all of its operating ecosystems are profitable for the first time, lifting ecosystem adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) by 84% to $1.3 billion and signalling that its long-running bet on e-commerce is finally paying off.
The performance marks a potential turning point for Prosus, which has spent years investing billions of dollars in food delivery, classifieds, fintech, and ecommerce businesses across emerging markets. While those investments helped build digital platforms spanning Latin America, Europe, and India, investors continued to value the company largely for its stake in Tencent.
With all of its operating ecosystems now profitable, Prosus is seeking to prove that its own businesses can generate sustainable earnings and stand on their own.
The technology investor reported revenue of $9.7 billion for the year ended March 31, 2026, up 57% from $6.2 billion a year earlier. Group EBITDA more than doubled to $1.05 billion from $484 million, while free cash flow rose to $1.5 billion from $1 billion. Core headline earnings, which Prosus uses as a measure of operating performance, increased 13% to $8.3 billion.
