On November 12th, Jin10 data reported that SoftBank Group Corporation of Japan stated that its quarterly profit improved due to the successful listing in India and the Rebound of technology valuations. The company announced a net income of ¥1.18 trillion (approximately $7.7 billion) in the September quarter report. This marks a turnaround from a net loss of ¥930 billion last year. Analysts had predicted an average net income of about ¥295 billion during this period. Vision Fund recorded a profit of ¥373 billion, thanks to the strong IPO of Indian startups and the valuations pump of Coupang and Didi Global.
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SoftBank turns losses into profits with the help of the hot IPO market in India
On November 12th, Jin10 data reported that SoftBank Group Corporation of Japan stated that its quarterly profit improved due to the successful listing in India and the Rebound of technology valuations. The company announced a net income of ¥1.18 trillion (approximately $7.7 billion) in the September quarter report. This marks a turnaround from a net loss of ¥930 billion last year. Analysts had predicted an average net income of about ¥295 billion during this period. Vision Fund recorded a profit of ¥373 billion, thanks to the strong IPO of Indian startups and the valuations pump of Coupang and Didi Global.