TOKYO (Reuters) – Japanese conglomerate SoftBank Group Corp’s full-year operating profit rose 80.5 percent due to the rising valuations of its tech investments, beating estimates.
The tech and telecoms group’s operating profit was 2.4 trillion yen (16.7 billion pounds) in the financial year ended March.
That compared with a 2.1 trillion yen SmartEstimate that gives a greater weighting to top-rated analysts, according to Refinitiv data.
SoftBank did not provide a forecast for the current financial year, citing uncertain business factors.
(Reporting by Sam Nussey; Editing by Himani Sarkar)