off-the-wire

SoftBank shares fall nearly 4% on bigger-than-expected loss

Kitco Media
By Reuters
Published:
Updated:
Reuters
TOKYO, May 12 (Reuters) - Shares of SoftBank Group Corp fell as much as 3.85% in early trade on Friday, after the Japanese technology investor posted an annual loss that was more than three times as big as market expectations. SoftBank on Thursday reported a net loss of 970 billion yen
($7.18 billion) for the year ended March 31 amid hefty investment losses at its Vision Fund investing arm.


That compared with a 1.7 trillion yen loss a year earlier, but was far bigger than analysts' average estimate of a 265 billion yen loss.


($1 = 135.0500 yen) (Reporting by Kiyoshi Takenaka; Editing by Jacqueline Wong)

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