SoftBank Group swung to a ¥1.18 trillion ($7.7 billion) net profit in the three months to September, as the tech giant benefited from higher share prices of listed companies in its Vision Fund investment vehicles.
The results handsomely beat expectations of a ¥287 billion profit based on the average of four analyst estimates compiled by LSEG, and compares with a loss of ¥931 billion in the same period last year.
The results show SoftBank’s more cautious approach to investment is bearing some fruit.