softbank h1 net profit down on oneoff factor
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

SoftBank H1 net profit down on one-off factor

Arab Today, arab today

Arab Today, arab today SoftBank H1 net profit down on one-off factor

SoftBank has reported a fall in H1 net profit
Tokyo - Arab Today

SoftBank said Monday its net profit for the first half of the fiscal year plunged after the previous year's sale of a game development business, but operating profit surged on brisk sales for its US telecom unit.

The Japanese mobile giant said net profit for the six months to September came in at 102.6 billion yen ($900 million), down 86.6 percent from the same period a year earlier.

The dive in SoftBank's net profits was mainly because it sold former mobile game subsidiary Supercell Oy and the profits from this unit had inflated last year's figures, it said.

But operating profit soared 35.1 percent to 874.8 billion yen thanks to a sound performance from its US wireless unit Sprint, the company said.

Sales edged up 3.3 percent to 4.41 trillion yen, it said.

The figures came after Sprint and T-Mobile announced over the weekend they had called off merger talks.

T-Mobile, an affiliate of Germany's Deutsche Telekom, and Sprint are the third and fourth largest US wireless operators, respectively.

Together the pair would have had 131 million subscribers, virtually matching second-ranked AT&T and posing stiff competition to market leader Verizon Communications.

SoftBank did not release earnings estimates for the fiscal year through March 2018, which is not unusual for the company.

Led by flamboyant founder Masayoshi Son, SoftBank has embarked on a string of international acquisitions both big and small in recent years.

Son was among the first business people to meet Donald Trump after his November election victory, and was also among dozens of Japanese and American business leaders who attended a speech by the visiting US president in Tokyo on Monday.

Son has pledged to invest $50 billion in business and job-creation in the United States, winning praise from the then president-elect.

Shares in Softbank lost 2.59 percent to close at 9,945 yen on Monday, before the earnings report was released.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

softbank h1 net profit down on oneoff factor softbank h1 net profit down on oneoff factor

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

softbank h1 net profit down on oneoff factor softbank h1 net profit down on oneoff factor

 



GMT 09:16 2017 Wednesday ,13 December

Cape wearing tips

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives

GMT 19:06 2016 Saturday ,10 December

IOF Close Al-Nabi Saleh Village's Entrance

GMT 18:01 2017 Wednesday ,22 February

Abu Sayyaf ‘likely’ behind Vietnam freighter attack

GMT 06:41 2017 Sunday ,03 December

Hamas threatens 'intifada' over US moves on Jerusalem

GMT 16:17 2017 Saturday ,21 January

BMW 7 series crosses 5,000 unit mark in 2016

GMT 12:17 2016 Wednesday ,24 February

United Technologies nixes Honeywell merger

GMT 23:37 2017 Monday ,31 July

Saudi Arabia sanctions Hezbollah member

GMT 05:45 2018 Saturday ,29 September

Abdullah bin Zayed hosts official reception in New York

GMT 04:12 2018 Friday ,12 January

Saudi-led coalition says Yemen rebels threat

GMT 11:18 2014 Monday ,22 December

Richard Ward adds to The Chelsea Collection

GMT 21:20 2017 Monday ,06 February

UN resumes food air drops in Deir Ezzor

GMT 22:24 2017 Friday ,15 December

HRH Premier thanked by Cambodian counterpart

GMT 02:11 2017 Monday ,23 October

Oct24/Nov22

GMT 21:31 2017 Monday ,11 December

HM King congratulates Burkinabe President

GMT 20:22 2017 Monday ,23 October

EU deplores attack against police
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday