The Japanese conglomerate reported ¥231 billion (about $2 billion) in net income for the first three months of 2024, up from a net loss of ¥57.6 billion a year earlier. While SoftBank reported its second profitable quarter in a row, the company still posted a loss for its fiscal year. (The Logic)
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The Japanese conglomerate reported ¥231 billion (about $2 billion) in net income for the first three months of 2024, up from a net loss of ¥57.6 billion a year earlier. While SoftBank reported its second profitable quarter in a row, the company still posted a loss for its fiscal year. (The Logic)
Talking point: SoftBank attributed much of its recent gains to Arm, its U.K. chip-design unit, which last week reported a 47 per cent jump in year-over-year revenue. AI is proving to be a windfall for the group after years of risky bets on technology startups failed to pay off. (The company reported a ¥57.5-billion loss in its Vision Fund investments in its latest quarter.) The firm said it invested US$3.9 billion in fiscal 2023, most of which went to companies in the AI and automation space. It has committed to five more AI investments worth about US$1 billion each.
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