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The Japanese investment giant posted a $2.2 billion quarterly profit, with a 1.3 trillion yen gain on Intel stock doing most of the heavy lifting
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SoftBank Group Corp. reported first-quarter net income of 347.3 billion yen ($2.2 billion) on Thursday, beating analyst expectations but falling nearly 18% from the same period a year earlier. The profit was driven by a 1.3 trillion yen gain on Intel $INTC stock, not by its closely watched investment in OpenAI, which produced no recorded gain or loss in the quarter.
Analysts had forecast net income of 120.23 billion yen, according to LSEG estimates cited by CNBC.
