Prosus shares fell as much as 7% in early European trading. The decline followed a profit warning linked to increased spending on its Brazilian food delivery unit, iFood.
The company is accelerating investment to counter competition in Latin America. Rivals in the region have reportedly committed over $1 billion in spending.
CEO Fabricio Bloisi stated the spending will protect iFood’s market-leading position. This investment reduces the unit's projected fiscal 2027 adjusted EBITDA to between $100 million and $150 million.
Prosus confirmed it reached its fiscal 2026 targets. Its e-commerce portfolio generated over $7.3 billion in revenue. The portfolio also delivered $1.1 billion in adjusted EBITDA.