SoftBank Lowers Profit Forecast
SoftBank (OTC: SFTBY) reported a rise in its second-quarter profit and lowered its profit forecast.
The company's net profit climbed to Yen483.1 billion ($4.2 billion), versus a year-ago profit of Yen165.8 billion.
SoftBank's operating profit slipped to Yen259.0 billion, compared to Yen337.1 billion. However, analysts were expecting an operating profit of Yen296.9 billion.
Its sales surged to Yen2.11 trillion from Yen1.7 trillion.
For the full fiscal year ending March 31, the company now expects operating profit of Yen900 billion, versus its earlier forecast of Yen1 trillion.
SoftBank shares rose 1.65% to close at $37.06 yesterday.
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