Tags: AS | Japan | Earns | SoftBank

SoftBank's Profit Zooms on Sprint Turnaround

Wednesday, 10 May 2017 05:37 AM

TOKYO (AP) — Japanese internet, robot and solar company SoftBank Group is reporting a 12-fold climb in quarterly profit, boosted by a turnaround at its U.S. mobile unit Sprint, which had dragged earning previously.

Tokyo-based SoftBank reported Wednesday January-March profit of 580.5 billion yen ($5.1 billion), up dramatically from 45.2 billion yen the same period the previous year.

Quarterly sales rose nearly 2 percent to 2.32 trillion yen ($20 billion).

For the year through March 2017, SoftBank, which acquired Britain's ARM Holdings, an innovator in the "internet of things," last year, reported 1.4 trillion yen ($12.5 billion) in profit, tripling from 474 billion yen the previous fiscal year.

The company, founded in 1981, also has within its sprawling investment empire financial-technology and ride-booking services. It also sells the Pepper human-shaped companion robot.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Asia
Japanese internet, robot and solar company SoftBank Group is reporting a 12-fold climb in quarterly profit, boosted by a turnaround at its U.S. mobile unit Sprint, which had dragged earning previously.Tokyo-based SoftBank reported Wednesday January-March profit of 580.5...
AS,Japan,Earns,SoftBank
131
2017-37-10
Wednesday, 10 May 2017 05:37 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved