SoftBank’s bottoom line has been boosted by a surge in stock markets.
TOKYO: SoftBank Group on Monday said net profit rocketed to $11.1 billion in the third quarter as stock rallies and asset sales helped it solidify its recovery.
Net profit for October-December hit 1,171.9 billion yen, more than 21 times higher than the 55.0 billion yen reported a year earlier, the conglomerate said.
Despite the results, SoftBank Group said it would not provide “forecasts of consolidated results of operations as they are difficult to project due to numerous uncertainties affecting earnings”.
But the economic crisis that has accompanied the coronavirus pandemic has worked largely in SoftBank’s favour, with rallies in tech stocks it owns and rising valuations for firms in its portfolio suited to the era, including food…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
