Investors Send SoftBank Stock 4.4% Lower Even as Profit Beats Estimates
SoftBank Group (9984.T) stock fell 4.41% on Thursday even after its quarterly profit beat forecasts. A 1.33 trillion yen gain on its Intel stake could not ease investor worries.
The stock closed at 5,695 yen in Tokyo, down 263 yen from the prior session. Net income reached 347.3 billion yen, roughly triple the 120.23 billion yen analysts had expected, according to LSEG.
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Intel Windfall Powers a Profit Beat For Softbank
SoftBank booked a 1,332.9 billion yen gain on its Intel shares during the quarter. Intel stock climbed from $44.13 to $139.63 over the period, per the company's report.
The gain flowed through SoftBank's investment holding arm. That unit posted segment income of 1,051.6 billion yen, reversing a 20.9 billion yen loss a year earlier.
Total investment gains reached 1,859.4 billion yen for the quarter. Net sales rose 10.9% to 2,019.6 billion yen.
OpenAI Stalls as Vision Fund Profit Nearly Vanishes
SoftBank recorded no gain or loss on its OpenAI stake this quarter. The valuation held flat from the prior fiscal year-end.
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