SoftBank Group spent a third straight quarter in the red, recording a ¥477.6bn ($3.3bn) loss for the quarter ending in June despite a recovery at its flagship Vision Fund investment unit.
The quarterly loss came despite analyst predictions of the group returning to profit after SoftBank founder Masayoshi Son told shareholders in June the company was going on the “going on the counteroffensive”.
Based on an average of four analysts surveyed by Refinitiv ahead of Tuesday’s results, the market had expected SoftBank to make a ¥75bn group-wide profit in the first quarter of the financial year that began in April. But the group sustained losses partly as a result of share price declines at Alibaba, Deutsche Telekom and T-Mobile.
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