Trending: SoftBank Group Shares Fall After Posting Fiscal-Year Net Loss
0818 GMT - SoftBank Group is one of the most mentioned companies in the news over the past 12 hours, according to Factiva data, after it posted a net loss for its most recent fiscal year. Softbank on Thursday after market close in Tokyo posted a loss of nearly a trillion yen for the year ended in March, with the fourth-quarter loss calculated by The Wall Street Journal at Y57.63 billion ($428.3 million) vs. a Visible Alpha consensus forecast of net profit of Y609.93 billion. SoftBank Group cited tech losses at its Vision Funds business for much of the loss, which wasn't offset by Y4.838 trillion of gains related to unwinding its stake in Alibaba. Shares fell 3.7% in Tokyo on Friday. Dow Jones & Co. owns Factiva. (jacques.vanwersch@wsj.com)
(END) Dow Jones Newswires
May 12, 2023 04:33 ET (08:33 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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