SoftBank Swings to Profit on Help From Hot Indian IPO Market
SoftBank Group Corp. swung to its biggest quarterly profit in two years on a series of successful Indian listings, giving its founder Masayoshi Son more ammunition for his next bet.The Tokyo-based company earned a net income of ¥1.18 trillion ($7.7 billion) in the September quarter, compared with a net loss of ¥931 billion last year. Analysts projected on average a net income of about ¥295 billion for the period. The Vision Fund reported a gain of ¥373 billion, which was also bolstered by a lift...
Read more at bloomberg.com