Earnings

SoftBank earnings Q2 FY 2023

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SoftBank posts $6.2 billion loss after WeWork files for bankruptcy

SoftBank posted an investment gain on its Vision Fund in the fiscal second quarter but booked another quarterly loss.

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

  • Net sales: 1.67 trillion Japanese yen ($11 billion) versus 1.6 trillion yen expected
  • Net loss: 931.1 billion yen ($6.2 billion) versus an expected loss of 114.1 billion yen

For the first half of SoftBank’s fiscal year, it posted a 1.41 trillion loss ($9.3 billion). This compares to a 3 trillion yen profit in the same period last year. SoftBank said a weaker yen hit the company since it has a lot of U.S.-dollar denominated liabilities.

SoftBank’s Vision Fund posted an investment gain of 21.3 billion yen,…



Source cnbc.com

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