Masayoshi Son's SoftBank Announces $3.4B Share Buyback As Vision Fund Tech Arm Yields Investment Gains
Portfolio Pulse from Benzinga Neuro
SoftBank announced a $3.4 billion share buyback following its first-quarter earnings report, which showed mixed results with a net profit of $71.5 million despite significant losses in its Vision Fund. The buyback aims to address shareholder concerns about the company's market capitalization.
August 07, 2024 | 9:34 am
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SoftBank announced a $3.4 billion share buyback amid mixed Q1 results, including a net profit of $71.5 million and significant losses in its Vision Fund. The buyback aims to address shareholder concerns about the company's market capitalization.
The share buyback is a positive signal to investors, indicating that the company is taking steps to address shareholder concerns and improve its market capitalization. Despite the losses in the Vision Fund, the net profit and increased net sales are positive indicators.
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