SoftBank's Son back to form with big bets and quarterly loss

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SoftBank's Son back to form with big bets and quarterly loss

//business-finance.news-articles.net/content/202 .. ck-to-form-with-big-bets-and-quarterly-loss.html

Published in Business and Finance on Wednesday, February 12th 2025 at 5:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Japan's SoftBank Group booked a surprise $2.4 billion quarterly loss on Wednesday, hit by a decline in the value of e-commerce platform Coupang and other tech companies held by its Vision Fund investment arm.

SoftBank Group reported a significant net loss of 783.4 billion yen ($5.2 billion) for the third quarter ending December, a stark contrast to the 29.0 billion yen profit in the same period the previous year. This loss was primarily driven by a 512.2 billion yen loss from its Vision Fund unit, which invests in technology startups, marking the fourth consecutive quarter of losses for the fund. Despite these setbacks, SoftBank's CEO Masayoshi Son expressed optimism about the future, highlighting the potential of artificial intelligence and the company's strategic shift towards "offense mode" to capitalize on new investment opportunities. Additionally, SoftBank's shares saw a slight increase following the announcement, reflecting some investor confidence in the company's long-term strategy.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/softbank-posts-third-quarter-loss-24-billion-2025-02-12/ ]

DIY Woodworking

Announcing The World''s Largest Collection of 16,000 Woodworking Plans

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