Reuters logo
in 6 months
SoftBank's Q3 operating profit rises 71 pct as Sprint trims losses
February 8, 2017 / 6:14 AM / in 6 months

SoftBank's Q3 operating profit rises 71 pct as Sprint trims losses

2 Min Read

TOKYO, Feb 8 (Reuters) - Japan's SoftBank Group Corp reported on Wednesday a 71 percent rise in operating profit for the October-December quarter due to shrinking losses at U.S. unit Sprint Corp and a strength in its domestic telecommunications business.

SoftBank, which owns a majority stake in Sprint, said third-quarter profit increased to 295.7 billion yen ($2.63 billion) from 172.8 billion yen in the same period a year earlier.

That beat a Thomson Reuters Starmine SmartEstimate of 246.30 billion yen drawn from three analysts. SmartEstimates give greater weight to recent forecasts by top-rated analysts.

Sprint trimmed its quarterly loss as the No. 4 U.S. wireless carrier added more subscribers than Wall Street expected.

This was the first full quarter since SoftBank completed a $32 billion acquisition of Britain's most valuable technology company ARM, but SoftBank's earnings are still highly dependent on Sprint and the performance of the domestic telecommunications business. ($1 = 112.3400 yen) (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below