Japanese tech conglomerate SoftBank returns to profit after record losses

//Japanese tech conglomerate SoftBank returns to profit after record losses

Japanese tech conglomerate SoftBank returns to profit after record losses

Japanese conglomerate SoftBank Group Corp rebounded from a record loss to post a first-quarter profit, as valuations for technology start-ups recovered from the coronavirus pandemic.Net income hit 1.26 trillion yen (US$11.8 billion) for the three months ended June 30, Tokyo-based SoftBank said in a statement on Tuesday, compared with a loss of 1.44 trillion yen three months earlier. The Vision Fund income was 129.6 billion yen, following a 1.13 trillion yen loss in the previous quarter.SoftBank…

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By | 2020-08-11T08:50:11+00:00 August 11th, 2020|Business|Comments Off on Japanese tech conglomerate SoftBank returns to profit after record losses