SoftBank Group shifted to profitability during the first quarter of this year after recording record losses in the previous quarter, in light of the revival of its project evaluations from the repercussions of the Corona pandemic.
According to Arabiya Net, the group said in a statement today that it recorded a net profit of 1.26 trillion yen ($ 11.8 billion) during the three months to the 30th of last June Against losses of 1.44 trillion yen during the previous quarter.
The SoftBank Vision Fund turned profitable in the first quarter of its current fiscal year, as it achieved profits of about 130 billion yen, equivalent to about $ 1.128 billion, compared to incurring losses In the fourth quarter of its previous fiscal year, 1.130 trillion yen, equivalent to about 10.67 billion dollars.
It is worth noting that the SoftBank Group owns about 30% of the SoftBank Vision Box.
Richard Kay, equity analyst and portfolio manager at Comgate Asset Management, expected a doubling of the stock's value on the back of a set of positive data, confirming that WeWork's losses will not affect the group's gains. / p>
according to japantimes, the tech giant's shares more than doubled from their March lows, driven by buybacks and improving market conditions for its portfolio companies.
Masayoshi Son, 62, has seen his net worth rise to $ 20 billion, the highest level since the Bloomberg Billionaires Index began tracking his fortune.
Thus, Son's fortune rose by about 12 billion dollars within three months, to reach 20 billion dollars, which means that it has more than doubled compared to his level of wealth last March. .
(Amazon fun knowledge)
