Naspers gained R4.25 on the JSE to R2710.41 a share after Tencent yesterday reported a 30 percent jump in third-quarter profit in spite of the regulatory clampdown on video games in China.
David Shapiro, an economist at Sasfin Securities said Naspers had strengthened as Tencent's results cruised past estimates.
“Third quarter net profit up 31 percent. Revenue growth slowing, but increased advertising sales offset impact of a ban on new gaming approvals,” Shapiro said. Net income climbed 23.3 billion yuan (R48.36bn) for the September quarter, compared with the 18.4 billion yuan average estimate.
Revenue rose 24 percent to 80.6 billion yuan.