SoftBank returns to quarterly profit with $7.7 bn gain, beats expectations

Japan’s SoftBank Group swung to a 1.18 trillion yen ($7.7 billion) net profit in the three months to September, as the tech giant benefitted from higher share prices of listed companies in its Vision Fund investment vehicles.

The results handsomely beat expectations of a 287 billion yen ($1.87 billion) profit based on the average of four analyst estimates compiled by LSEG, and compares with a loss of 931 billion yen in the same period last year.