Softbank Reports Q3 Net Profit Nosedives By 97 Amid Arm Deal Collapse
For the third quarter, SoftBank reported a net profit of ¥29 billion, which pales in comparison to the ¥1.17 trillion recorded a year ago. The weak performance follows on from a poor second-quarter result when the company recorded a ¥342 billion loss. SoftBank’s third-quarter revenue, meanwhile, rose 6% year-on-year to ¥1.6 trillion. Speaking about the Arm sale fallout, SoftBank founder and CEO Masayoshi Son said his company will now aim to take Arm public in the US sometime in the next fiscal year....