SoftBank earnings Q3 FY 2023

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Masayoshi Son, CEO of SoftBank, has been weighing up various options for chipmaker Arm after Nvidia walked away from buying the company.

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SoftBank posted its biggest gain in nearly three years at the flagship tech investment arm, the Vision Fund, in the December quarter amid a recovery in valuation of technology companies.

Here’s how SoftBank did in the December quarter against LSEG estimates:

  • Net sales: 1.77 trillion Japanese yen ($11.9 billion) versus 1.8 trillion Japanese yen expected.
  • Net income: 950 billion Japanese yen versus 196.5 billion yen expected.

The Vision Fund logged a gain on investment of 600.7 billion Japanese yen, continuing a recovery after record losses in the previous fiscal year. That gain is the highest since the March 2021 quarter when the Vision Fund posted a 3.59 trillion yen gain.

SoftBank’s net income was also the first first quarterly profit after four straght losses.

SoftBank’s flagship tech investment arm had a rough time in the fiscal year that ended in March last year, posting a record loss of around $32 billion amid a slump in tech stock prices and the souring of some of the business’ bets in China.

Sumber: www.cnbc.com

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