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  Business   Companies  06 Feb 2019  SoftBank Group's third-quarter profit leaps 60 pc, beating estimates

SoftBank Group's third-quarter profit leaps 60 pc, beating estimates

REUTERS
Published : Feb 6, 2019, 12:47 pm IST
Updated : Feb 6, 2019, 12:47 pm IST

SoftBank’s operating profit in the Oct-Dec quarter was 438.3 billion yen versus 274 bn yen a year earlier.

The year-earlier figure used previous accounting standards.
 The year-earlier figure used previous accounting standards.

Tokyo: Japan’s SoftBank Group Corp reported a 60 per cent rise in quarterly operating profit on Wednesday, buoyed by rising valuations of its technology investments.

SoftBank’s operating profit in the October-December quarter was 438.3 billion yen ( USD 3.99 billion) versus 274 billion yen a year earlier. The year-earlier figure used previous accounting standards.

 

The result compares with a 225 billion yen average estimate of three analysts polled by Refinitiv that gives a higher weighting to top-rated analysts.

The technology and telecoms conglomerate did not release a forecast for the current business year, saying there were too many uncertain factors.

Tags: softbank, shares, revenue
Location: Japan, Tokyo-to, Tokyo