SoftBank Group Corp. reported a better-than-projected second-quarter profit, with the wireless and internet businesses in Japan bringing in cash while Sprint Corp. shows signs of improvement.
Net income was ?512.1 billion in the period ended Sept. 30, the Tokyo-based company reported on Monday. That¡¯s more than the ?446.9 billion average of analysts¡¯ projections compiled by Bloomberg. Operating income for the quarter was ?334.7 billion, compared with their prediction of ?313.9 billion.
Sprint¡¯s revival and steady earnings at home have freed founder Masayoshi Son to focus on his longer-term vision for a company that¡¯s made tens of billions investing in companies such as Alibaba Group Holding Ltd. and Supercell Oy. Son is betting on the future of connected devices with the $32 billion acquisition of ARM Holdings Plc. Last month, he unveiled plans to form a new fund to invest as much as $100 billion in the global technology industry.
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