| Log in
Photo Credit: Reuters

SoftBank first-quarter profit surges 50% after inclusion of Vision Fund

07 August, 2017

Japan’s SoftBank Group Corp on Monday reported a 50.1 percent rise in first-quarter operating profit, after the company included Vision Fund, the world’s largest private equity fund, as a new reportable segment and booked a valuation gain.

The internet and telecoms giant said profit for the quarter through June increased to 479.2 billion yen ($4.33 billion).

SoftBank has not released a forecast for the current business year ending March, saying there are too many uncertain factors.

Thomson Reuters Starmine SmartEstimate puts full-year profit at 1.16 trillion yen, based on the estimates of 20 analysts.

SoftBank is a prolific investor in technology startups, with founder and chief executive officer Masayoshi Son instrumental in creating Vision Fund.

Recent investments include U.S. online lender Kabbage Inc, which on Thursday said it had received a $250 million from SoftBank.

SoftBank also has a foothold in the U.S. market through its wireless unit Sprint Corp, which last week reported a quarterly profit for the first time in three years as a results of cost cutting efforts.

The fourth-biggest U.S. wireless carrier by subscribers is exploring options to boost finances and better compete, through means such as merging with T-Mobile US Inc as well as a tie-up with cable provider Charter Communications Inc.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
SoftBank posts $1.4-bn loss on Snapdeal, Ola investments

SoftBank posts $1.4-bn loss on Snapdeal, Ola investments

Dearton Thomas Hector 7 months ago
Japanese investor and Internet giant SoftBank Group Corp has reported a...
Apple to invest $1 bn in SoftBank Vision Fund

Apple to invest $1 bn in SoftBank Vision Fund

Disha Sharma 11 months ago
Apple Inc. is investing $1 billion in SoftBank Corp’s $100-billion tech fund,...
Exclusive: Sneak peek at the investment strategy of SoftBank-led $100 bn fund

Exclusive: Sneak peek at the investment strategy of SoftBank-led $100 bn fund

Aman Malik 1 year ago
Softbank Vision Fund, a proposed fund floated by Japan’s SoftBank Group Corp...
No Comments

SoftBank first-quarter profit surges 50% after inclusion of Vision Fund

Powered by WordPress.com VIP