SoftBank books another quarterly loss, as investment hits offset Arm

📆 09/11/2023 08:24:00
📰 Reuters

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SoftBank Group on Thursday booked a quarterly loss of 789 billion yen ($5.22 billion), marking its fourth straight quarter in the red, as investment losses offset proceeds from the initial public offering (IPO) of chip designer Arm.

A man talks on the phone as he stand in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter/File PhotoTOKYO, Nov 9 -

Its Vision Fund investment unit, meanwhile, booked an investment profit of 21.4 billion yen in the latest quarter, having made a 160 billion yen profit three months earlier. The net loss at group level of 789 billion yen compares with a 3.01 trillion yen profit a year earlier when it sold down a large portion of its stake in Chinese e-commerce giant Alibaba.Take-Two Interactive Software on Wednesday forecast third-quarter net bookings below market expectations, hurt by a slowdown in spending on the company's gaming titles such as "Grand Theft Auto" and "Red Dead Redemption".

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