TECH - Masayoshi Son's Softbank Beats Analyst Expectations: Record Staggering $1.5B Quarterly Profit Bolstered By Arm's Valuation And AI | Benzinga
SoftBank Group Corp (OTC:SFTBY) has reported a quarterly net profit of $1.5 billion, driven by the soaring valuation of Arm Holdings, as it continues to amass funds for its artificial intelligence expansion.
What Happened: The Japanese conglomerate’s profits for the quarter ending in March exceeded analysts’ expectations of JP¥23.3 billion ($149.5 million approx), according to Financial Times.
Despite this, SoftBank’s full-year net loss amounted to JP¥227.6 billion ($1.46 billion), with the group’s tech-heavy Vision Funds recording a quarterly investment loss of JP¥57.5 billion ($368 million).
However, investors and analysts remain optimistic about SoftBank’s AI strategy, centered around UK chip designer Arm. This optimism is fueled by the company’s recent quarterly profit and ...