{"id":799140,"date":"2021-11-08T11:10:20","date_gmt":"2021-11-08T11:10:20","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2021\/11\/08\/softbank-reports-3-5-billion-net-loss-in-q2\/"},"modified":"2021-11-08T11:10:20","modified_gmt":"2021-11-08T11:10:20","slug":"softbank-reports-3-5-billion-net-loss-in-q2","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2021\/11\/08\/softbank-reports-3-5-billion-net-loss-in-q2\/","title":{"rendered":"SoftBank reports $3.5 billion net loss in Q2"},"content":{"rendered":"<p>SoftBank Group Corp slipped into the red with a 397 billion yen ($3.5 billion) loss for the July-September quarter, hit by falling valuations in the tech portfolio of its Vision Fund unit.<\/p>\n<p>The loss compared with a profit of 628 billion yen in the same period a year earlier.<\/p>\n<p>The Vision Fund unit reported a quarterly investment loss of 1.167 trillion yen.<\/p>\n<p>CEO Masayoshi Son describes SoftBank as a goose laying &#8220;golden eggs&#8221; &#8211; referring to its stakes in startups that go to market, but initial public offerings (IPOs) have dropped off and shares in many of its top assets fell during the quarter.<\/p>\n<p>&#8220;The strategy of let&#8217;s create the perception of enhanced value by taking things public hasn&#8217;t really worked this year,&#8221; Redex Research analyst Kirk Boodry said.<\/p>\n<p>Depressed valuations in SoftBank&#8217;s China portfolio amid a regulatory crackdown continued to drag on its performance. The group&#8217;s largest asset, Chinese e-commerce firm Alibaba, fell by around a third in the three months to September.<\/p>\n<p>Bright spots for the Vision Fund include its India portfolio with ride-hailer Ola and logistics firm Delhivery targeting listings.<\/p>\n<p>SoftBank has been trimming stakes following the expiry of lock-up periods, while focusing on investing through its second Vision Fund that has $40 billion in committed capital from SoftBank itself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank Group Corp slipped into the red with a 397 billion yen ($3.5 billion) loss for the July-September quarter, hit by falling valuations in the tech portfolio of its Vision Fund unit. The loss compared with a profit of 628 billion yen in the same period a year earlier. The Vision Fund unit reported a quarterly investment loss of 1.167 trillion yen. CEO Masayoshi Son describes SoftBank as a goose laying &#8220;golden eggs&#8221; &#8211; referring to its stakes in startups that go to market, but initial public offerings (IPOs) have dropped off and shares in many of its top assets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-799140","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799140"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799140\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}