Naspers sends profit warning 45 minutes after market close

[Jan]

Naspers issues major profit warning

Naspers issued a trading update 45 minutes after the JSE closed on Monday, warning shareholders that it expects a major decline in half-year profits.

It warned that headline earnings per share for its continuing operations would decline by between 100% and 108% from $3.51 to between -$0.28 and -$0.02.

 

[3WA]

Between -0.28 and -0.02??? Damn, that's not even 10c.

 

[Jan]

Between -0.28 and -0.02??? Damn, that's not even 10c.

To be clear, headline earnings for continuing operations are declining by between $3.53 and $3.79.

It's swinging from headline earnings to headline loss per share.

 

[Johand]

Fire Bob already...

 

[3WA]

To be clear, headline earnings for continuing operations are declining by between $3.53 and $3.79.

It's swinging from headline earnings to headline loss per share.

Okay, just saw now that it's a carryover from TenCent. I wonder if it's really a one-off as they say it is?

 

[hj007]

Is it because of the bonuses? /s

 

[RonSwanson]

And so it begins.

 

[GhostSixFour]

Fire Bob already...

He's made his money. Doubt he cares.

 

[Pegasus]

Okay, just saw now that it's a carryover from TenCent. I wonder if it's really a one-off as they say it is?

They are selling "small" chunks

Tencent stock falls as Prosus/Naspers to sell shares to fund buybacks

The move is aimed at closing a gap between the market value of Prosus/Naspers and that of the 28.9% stake in Tencent they own.

www.cnbc.com