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SoftBank’s Profit Beats Expectations With Boost From Chip Bets

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AI SoftBank’s Profit Beats Expectations With Boost From Chip Bets SoftBank Group Corp. reported a smaller-than-expected decline in quarterly net income, helped by a rally in its chip-stock holdings while it awaits further gains from its bets on OpenAI. The Tokyo-based tech investor’s net income fell 18% to ¥347.3 billion ($2.2 billion) in its fiscal first quarter after unrealized gains on its bets on chipmakers countered startup valuation declines. That compares with a market estimate of...

AI SoftBank’s Profit Beats Expectations With Boost From Chip Bets SoftBank Group Corp. reported a smaller-than-expected decline in quarterly net income, helped by a rally in its chip-stock holdings while it awaits further gains from its bets on OpenAI. The Tokyo-based tech investor’s net income fell 18% to ¥347.3 billion ($2.2 billion) in its fiscal first quarter after unrealized gains on its bets on chipmakers countered startup valuation declines. That compares with a market estimate of about ¥166 billion, based on the average of four analysts polled.
SoftBank (ORG) Profit Beats Expectations With Boost From Chip Bets AI SoftBank’s (ORG) Profit Beats Expectations With Boost From Chip Bets SoftBank Group Corp. (ORG) Tokyo (LOCATION)
Originally published by Bloomberg Markets Read original →