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…
Source Reuters Tech News