May 9, 2019 / 6:09 AM / 2 months ago

SoftBank Group FY operating profit up 80.5 pct on tech bets, beats estimates

TOKYO, May 9 (Reuters) - Japanese conglomerate SoftBank Group Corp’s full-year operating profit rose 80.5 percent due to the rising valuations of its tech investments, beating estimates.

The tech and telecoms group’s operating profit was 2.4 trillion yen ($21.84 billion) in the financial year ended March.

That compared with a 2.1 trillion yen SmartEstimate that gives a greater weighting to top-rated analysts, according to Refinitiv data.

SoftBank did not provide a forecast for the current financial year, citing uncertain business factors. ($1 = 109.9100 yen) (Reporting by Sam Nussey; Editing by Himani Sarkar)

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