Prosus, the Dutch-listed technology investment giant, reported a stunning set of financial results today, silencing skeptics and validating its aggressive pivot towards e-commerce and digital services. The company announced that its adjusted core profit for the first half of the financial year surged by 99%, nearly doubling compared to the same period last year. Revenue also climbed by a healthy 22% to reach $3.6 billion.
The standout performers in Prosus’s portfolio were its food delivery and classifieds businesses. iFood, the Latin American food delivery giant, and OLX, the global classifieds platform, both delivered exceptional growth. iFood, in particular, has successfully expanded beyond simple food delivery into fintech and grocery, significantly increasing its revenue per user. The ‘quick commerce’ sector, which had been a cash burner for many competitors, is finally turning a profit for Prosus due to disciplined operational efficiency and market consolidation.
“This performance demonstrates the fundamental strength of our e-commerce portfolio,” the company stated in its earnings call. “We have moved from a phase of investment and growth at all costs to a phase of profitable scaling.” This shift mirrors a broader trend in the tech industry where investors are rewarding unit economics over raw user growth.
Prosus also highlighted the success of its ed-tech and fintech divisions, which are beginning to contribute meaningfully to the bottom line. The company’s strategic investments in India, particularly in the payments and credit sectors, are paying off as digital adoption in the region continues to accelerate. However, the results were not without challenges; the company acknowledged ongoing headwinds in the gaming sector and the need for continued regulatory navigation in China, where it holds a significant stake in Tencent.
For the tech market, Prosus’s results are a bellwether. As one of the largest tech investors globally, its health suggests that consumer demand for digital services remains robust despite macroeconomic uncertainties. It also signals that the ‘efficiency drive’ initiated by many tech firms in 2024 is yielding tangible financial results in 2025.
