SoftBank reports rise in profit
SoftBank Corp’s operating profit increased 4% in line with investor expectations. One of the key bullish drivers was the rising number of mobile users.
The operating profit rises due to a growing number of mobile users
Stocks impacted: SoftBank Corp (9984)
In particular, the company’s smartphone subscribers rose 372,000 from the first quarter. Operating profit was 268.9 billion yen in the first quarter. The telco’s full-year operating profit forecast stayed unchanged at 890 billion yen, up 9% from 2018. As a reminder, the company operates through six segments: Domestic Telecommunications, Sprint, Yahoo Japan, Distribution, ARM, and SoftBank Vision Fund and Delta Fund. SoftBank Corp has hiked its stake in Yahoo Japan Corp., with its first share buyback announced last month have helped support SoftBank Corp’s shares.
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