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📽️ WATCH - JAPAN'S SOFTBANK SWINGS TO QUARTERLY PROFIT, EYES ON ARM UNIT Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. https://t.co/O5BggntnbJ
SoftBank Group reported a second straight quarter of profitability on Monday as the Japanese tech conglomerate benefits from an artificial intelligence investment boom that has buoyed prized assets like Arm Holdings. https://t.co/gA7oqx5kXa
SoftBank reported a net profit of over $2.1 billion in the final quarter, compared to losses in the same period a year ago. The investors are excited about the potential of an AI-driven future that boosted SoftBank's top asset, chip designer Arm Holdings https://t.co/RWgVF5XC8K https://t.co/eLyTtcTk4K
SoftBank Group reported a significant turnaround with a net profit of $2.1 billion (328.9 billion yen) for the fourth quarter of the fiscal year ending March 2024. This marks a notable recovery from previous losses, driven by successful investments in artificial intelligence and strong performances from key assets like Arm Holdings. Despite the quarterly success, SoftBank experienced a full-year net loss of $1.46 billion, attributed to a $368 million quarterly investment loss in its Vision Fund. However, the Vision Fund itself reported a $4.6 billion gain for the fiscal year, its first since 2021, buoyed by increases in the value of investments in companies like ByteDance and DoorDash.