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SoftBank Group first-quarter profit falls 4%, but tops estimates

SoftBank Group first-quarter profit falls 4%, but tops estimates
FILE PHOTO: The logo of SoftBank Group Corp is seen at the company's headquarters in Tokyo, June 30, 2016. REUTERS/Toru Hanai/File Photo -
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Toru Hanai(Reuters)
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TOKYO (Reuters) – SoftBank Group Corp’s <9984.T> first-quarter operating profit fell 3.7%, but was well above estimates, compared to the same period last year that saw the sale of part of its stake in chip designer Arm’s China business.

The giant Japanese technology investor’s operating profit for the April-June quarter was 688.8 billion yen (£5.34 billion). That compared with a 336 billion yen estimate from five analysts compiled by Refinitiv.

(Reporting by Sam Nussey)

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