SoftBank posts modest profit in Q1 as private tech valuations remain under pressure

Quick Summary:

The technology investor's first-quarter earnings report comes just two days after the company experienced its worst day on the Japanese stock market since its 1988 listing.

However, it marked the third consecutive profitable quarter for the company, which had reported losses in the prior two fiscal years.

In India, where SoftBank has invested nearly $14 billion over the past decade, the company has not made any new investments for nearly two years.

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Article Details

Author / Journalist: Nikhil Patwardhan

Category: StartupsEconomyBusiness

Markets: IndiaJapan

Topics: Investment Companies Company Profit Million Billion Privacy Softbank Quarter Japanese First

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 06:47:48 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 21967121

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