SoftBank Posts $7 Billion Q2 Loss as Shares Jump 13.9%
Updated
Updated · CNBC · Nov 10
SoftBank Posts $7 Billion Q2 Loss as Shares Jump 13.9%
3 articles · Updated · CNBC · Nov 10
Summary
SoftBank reported a fiscal second-quarter net loss of 1.12 trillion yen, reversing from a 2.5 trillion yen profit a year earlier.
Revenue reached 2.22 trillion yen, beating LSEG estimates of 2.02 trillion yen even as a tech selloff weighed on the group’s investment results.
SoftBank shares still closed 13.9% higher Tuesday, lifted by a broader rebound in Asian technology stocks after Wall Street recovered overnight.
The loss comes as SoftBank doubles down on AI: it completed a $30 billion follow-on investment in OpenAI in October, raising its total stake to $64.6 billion, or about 13%.
A day before earnings, SoftBank also joined Grab and PETROS in a $1.85 billion initial commitment for AI infrastructure in Malaysia, targeting at least five gigawatts of computing capacity over time.