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SoftBank Q2 profit rises 6.8 pct on strong domestic telecoms business
November 7, 2016 / 6:22 AM / a year ago

SoftBank Q2 profit rises 6.8 pct on strong domestic telecoms business

TOKYO, Nov 7 (Reuters) - Japan’s SoftBank Group Corp reported on Monday a 6.8 percent rise in operating profit for the July-September quarter, thanks to a strong showing by its domestic telecommunications business.

Second-quarter profit rose to 334.7 billion yen ($3.21 billion) from 313.4 billion yen a year earlier. That compared with a 287 billion yen average estimate from two analysts, according to Thomson Reuters Starmine.

SoftBank completed in September the $32 billion acquisition of UK chip designer ARM Holdings, Britain’s most valuable technology company, in Japan’s largest ever outbound deal. ($1 = 104.3800 yen) (Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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