News

SoftBank Group Reports First-Quarter Results

1 Mins read

SoftBank Group, the Japanese multinational conglomerate, announced its first-quarter results on Tuesday. Here is a breakdown of the key details:

Net Loss

SoftBank Group reported a net loss of ¥477.62 billion ($3.35 billion) for the first quarter. Although worse than the estimated net loss of ¥69.95 billion according to a poll by Visible Alpha, it was an improvement compared to the net loss of ¥3.163 trillion in the same period last year.

Revenue

The company’s first-quarter revenue declined by 0.9% to ¥1.558 trillion compared to the previous year. This fell short of the estimated revenue of ¥1.648 trillion as per the Visible Alpha poll.

Important Highlights

Vision Funds Business

SoftBank’s Vision Funds business witnessed a significant turnaround, reporting a profit of ¥61.04 billion, recovering from the huge loss of ¥2.331 trillion in the previous year. This improvement was primarily driven by gains from investments in Latin America.

ARM Business

Unfortunately, SoftBank’s Arm business suffered a loss of ¥9.51 billion, in contrast to a profit of ¥29.85 billion recorded in the same period last year. The decline in revenue, higher expenses related to stock compensation programs, and increased headcount to enhance research and development capability contributed to this loss. Additionally, revenue dropped by 11% YoY to $641 million due to a slowdown in the semiconductor market for smartphones and Internet-of-Things home devices.

Japan Mobile Services

On a positive note, SoftBank’s Japanese mobile and internet services experienced a 15% increase in profit compared to the previous year, reaching ¥254.99 billion. The strength of its enterprise cloud business played a significant role in driving this growth.

Related posts
News

Tron Inc. Debuts on Nasdaq as Justin Sun Rings Opening Bell - TokenPost

1 Mins read
Tron Inc., the largest holder of TRX, has achieved a major milestone by officially listing on the Nasdaq exchange, marking a historic…
News

EFCC Takes Sensitization Campaign On Virtual Assets, Money Laundering To CBN - InfoStride News

2 Mins read
Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Thursday, July 24, sensitized officers of Central…
News

Binance's Top Trending Cryptocurrency Picks for Today, July 23, 2025

10 Mins read
Looking for what’s hot in crypto today, July 23, 2025? We’ve got the rundown on the top trending cryptocurrency picks you’ll find…

Leave a Reply

Your email address will not be published. Required fields are marked *

14 − 10 =