TOKYO (Aug 7): Japanese technology investor SoftBank Group swung to a small net profit in the April-June quarter and unveiled plans to buy back up to US$3.4 billion in shares, answering investor calls for better returns.
It logged ¥10.4 billion (US$70.7 million) in net profit, better than a loss of ¥316.2 billion in the same period a year earlier.
But it missed expectations of ¥109 billion, according to an average of five analyst estimates compiled by LSEG and Reuters.
SoftBank announced it would buy back up to 6.8% of its own shares, worth as much as ¥500 billion. It plans to make the purchases over the next year.
- Reuters
Created by Tan KW | Sep 10, 2024
Created by Tan KW | Sep 10, 2024
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Created by Tan KW | Sep 10, 2024
Created by Tan KW | Sep 10, 2024
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Created by Tan KW | Sep 10, 2024