Naspers’s earnings drop as trading losses widen

Naspers reported that core headline earnings fell almost three quarters as the global economic downturn, characterised by high inflation and interest rates, weighed on consumers in the six months to end-September.

The global internet and media company, valued at R1.05bn on the JSE, reported on Tuesday that its core headline earnings, its preferred profitability metric, which strips out certain non-operating items such as share-based payment expenses on transactions where there is no cash cost, declined 74.1% year on year to $372m ...

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