<\/p>\n
It reported a net profit of 328.9 billion yen ($2.11 billion) for the January-March period.<\/p>\n
Japanese technology giant SoftBank Group swung to a quarterly profit from a year earlier, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period.<\/p>\n
The result comes after chief financial officer Yoshimitsu Goto in February declared the tech investment company \u2013 long known for volatile earnings and outsized bets on technology start-ups \u2013 was on a return to a \u201cgrowth trajectory\u201d.<\/p>\n
Although founder and chief executive Masayoshi Son has for years talked about the potential for artificial intelligence (AI), as well as robotics, SoftBank has not been a big player in the kind of generative AI models like ChatGPT that have caught the imagination of the public, and investors.<\/p>\n
But the promise of an AI-driven future has bolstered the valuation of SoftBank\u2019s crown jewel asset, British chip design firm Arm Holdings.<\/p>\n
Monday\u2019s result marks the second straight quarter of profit for SoftBank, although for the full year the company remained in the red.<\/p>\n
The Vision Fund investment unit booked an investment loss of 57.5 billion yen, after three consecutive quarters of profit<\/p>\n
Fourth-quarter net profit at group level compared with a 32 billion yen loss in the same period a year earlier, when capital raised using SoftBank\u2019s stake in Alibaba Group cushioned some of the writedowns in the value of Vision Fund private portfolio companies.<\/p>\n
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It reported a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. Japanese technology giant SoftBank Group swung to a quarterly profit from a year earlier, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The result comes after chief financial officer Yoshimitsu Goto in February declared […]<\/p>\n","protected":false},"author":1,"featured_media":1650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/SoftBank-33-1140x445.jpeg",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/SoftBank-33-463x348.jpeg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/SoftBank-33-300x200.jpeg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/05\/SoftBank-33.jpeg",2000,1335,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=1615"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1615\/revisions"}],"predecessor-version":[{"id":1617,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/1615\/revisions\/1617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/1650"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=1615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=1615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=1615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}