SoftBank reported a net profit of 347.3 billion Japanese yen ($2.2 billion) for the June quarter, surpassing analyst expectations of 120.23 billion yen, according to LSEG estimates. However, this figure represents an 18% decline compared to the same period last year.
A major contributor to this profit was a 1.3 trillion yen gain from SoftBank's investment in Intel, which followed a $2 billion investment made last year. This success bolstered SoftBank's investment division, which recorded a segment profit of 1.05 trillion yen.
Additionally, the Vision Fund, which includes investments in companies like OpenAI and ByteDance, reported a $1.7 billion increase in value, primarily driven by a $2.2 billion rise in SoftBank's stake in ByteDance. This gain helped offset losses from other investments, such as PayPay.
The Vision Funds segment achieved a profit of 5.4 billion yen, a significant increase from 451.4 billion yen a year ago. Notably, SoftBank did not report any gains or losses from its investment in OpenAI this quarter, contrasting sharply with the previous quarter's nearly $20 billion gain attributed to OpenAI.
This performance highlights the volatility and potential of SoftBank's investment strategy, particularly in the tech sector