Japan's SoftBank says nine-month profit soars 58%

Feb 12, 2014

SoftBank said Wednesday its nine-month net profit soared 58 percent thanks to strong iPhone sales, but third-quarter earnings suffered because of losses in its newly acquired Sprint Nextel unit.

The Japanese telecom giant logged earnings of 488.23 billion yen ($4.76 billion) after adding 2.28 million new subscribers in the nine months to December.

"This was primarily the result of steady sales of smartphones, especially iPhone," it said in a statement.

Nine-month almost doubled to 4.56 trillion yen from a year earlier, SoftBank said, as it added Sprint to its revenue total, although the unit weighed on in the three months to December as net profit declined about 13 percent from a year earlier.

SoftBank took control in July of the third-largest US wireless carrier in a monster $21.6 billion deal, one of a string of acquisitions in recent years.

The company took a majority stake in Finnish game maker Supercell, creator of the popular "Clash of Clans", last year, when it also became the top shareholder of Japanese game developer GungHo Online Entertainment.

SoftBank is reportedly eyeing the purchase of smaller rival T-Mobile through its Sprint unit in a bid to compete with market leaders Verizon Wireless and AT&T.

Chief executive Masayoshi Son on Wednesday declined to comment on the possible deal, or reports that have said US regulators are lukewarm on the merger.

Explore further: Japan's SoftBank net profit jump 84% in H1 (Update)

add to favorites email to friend print save as pdf

Related Stories

Softbank 3Q profit doubles on iPhone sales

Jan 31, 2013

Japanese phone company Softbank, owned by billionaire Masayoshi Son, says its net profit more than doubled in the October-December quarter from a year earlier, helped by strong sales of Apple's iPhone and iPads.

Recommended for you

Amazon, Simon & Schuster sign book retail deal

6 hours ago

Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing.

Facebook sues law firms, claims fraud

17 hours ago

Facebook is suing several law firms that represented a man who claimed he owned half of the social network and was entitled to billions of dollars from the company and its CEO Mark Zuckerberg.

IBM 3Q disappoints as it sheds 'empty calories'

17 hours ago

IBM disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chipmaking division as the tech giant tries to steer its business toward cloud computing and social-mobile ...

User comments : 0