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Japanese telco SoftBank posts 15% rise in third-quarter profit, hikes full-year forecast – Source Reuters Tech News

TOKYO (Reuters) – Japanese telco SoftBank Corp on Friday reported a 15% rise in third-quarter operating profit, beating estimates, underpinned by its mobile business.

FILE PHOTO: SoftBank Corp. placard is prepared during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato/File Photo

SoftBank also raised its full-year operating profit forecast to 900 billion yen ($8.19 billion) from 890 billion yen previously.

Operating profit in the October-December quarter was 243 billion yen versus 211 billion yen a year earlier. That compared with an average forecast of 240 billion yen from three analyst estimates compiled by Refinitiv.

Japan’s third-largest telco, SoftBank Corp has pledged to pay out 85% of its net income as dividends, providing a steady stream of cash to tech conglomerate SoftBank Group Corp, which holds a 67% stake.

Along with a 26% stake in China’s Alibaba, the wireless carrier continues to help…

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Source Reuters Tech News

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