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Naspers Delivers Strong Ecommerce Revenue Growth and Operating Performance

Retrieved on: 
Wednesday, November 23, 2022

Our ecommerce businesses are all profitable or breakeven at the core and we have accelerated efforts to drive profitable growth.

Key Points: 
  • Our ecommerce businesses are all profitable or breakeven at the core and we have accelerated efforts to drive profitable growth.
  • Ecommerce revenues, on an economic interest basis, grew 38% to US$5.6bn, driven by strong top-line growth across all four core segments.
  • The segment delivered strong growth, with a focus on improving profitability in the core restaurant businesses, coupled with controlled investment in growth extensions, such as quick commerce and groceries.
  • In the core restaurant business in Brazil, orders increased by 2% and GMV by 13%, driving revenue growth of 29%, to US$606m.