Naspers Full-Year Profit Increases, Beating Estimates
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Naspers Ltd., Africa’s largest media business, reported full-year profit that beat analysts’ estimates as pay-television and Internet revenue increased.
Adjusted net income rose 15 percent to 6.95 billion rand ($824 million) in the year through March, the Cape Town-based company said in a statement today. That beat the 6.84 billion-rand median of nine analyst estimates in a Bloomberg survey. Sales increased 19 percent to 39.5 billion rand. Naspers shares advanced as much as 3.1 percent, the biggest intraday jump since June 11.