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 Prime wins streaming deal with HBO

9 hours ago

Amazon scored a deal Wednesday to distribute old shows from premium cable TV channel HBO to its monthly Prime subscribers, landing a blow on rival Netflix in the streaming video battle.

LinkedIn to anchor new San Francisco high-rise

19 hours ago

San Francisco Mayor Ed Lee says the professional networking site LinkedIn will expand its presence in the city by anchoring a high-rise office building under construction.

User comments : 0

More news stories

Is nuclear power the only way to avoid geoengineering?

"I think one can argue that if we were to follow a strong nuclear energy pathway—as well as doing everything else that we can—then we can solve the climate problem without doing geoengineering." So says Tom Wigley, one ...

US urged to drop India WTO case on solar

Environmentalists Wednesday urged the United States to drop plans to haul India to the WTO to open its solar market, saying the action would hurt the fight against climate change.