SoftBank Group reports Q4 net profit of $2.11bn, marking its second consecutive profitable quarter despite Vision Fund loss.
Japanese technology giant SoftBank Group reported a Q4 net profit of ¥328.9bn ($2.11bn), marking the second consecutive profitable quarter for the company. The Vision Fund investment unit booked a loss of ¥57.5bn, after three consecutive quarters of profit. The net profit at group level compared with a ¥32bn loss in the same period a year earlier, with SoftBank's cash pile increasing to ¥6.2tn at the end of the period. The comeback is attributed to an artificial intelligence investment boom benefiting key assets such as Arm Holdings.
May 13, 2024
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