Tencent's major shareholder Prosus sees doubled revenue and profits, boosted by strong growth in its e-commerce business.

Tencent's largest shareholder Prosus announced double-digit growth in revenue and profit for the fiscal year, thanks to improved profitability in its e-commerce business and investments in artificial intelligence. The technology investment company, listed in Amsterdam, reported a 21% increase in fiscal year revenue to $6.2 billion for the period ending March 31, slightly below analysts' expectations of nearly $6.39 billion. With investments in various companies, Prosus operates in parts of Europe, Latin America, and Asia across e-commerce, classified advertising, payments, and financial technology sectors. Its annual report shows Prosus holds a 23.5% stake in the Chinese tech giant Tencent as of the end of March. The tech investment company proposed doubling its dividend to 0.2 euros. Its stock price rose 2% on Monday, with a cumulative increase of over 35% in the past 12 months.