SoftBank expected to book $1.87 bln profit on IPOs
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SoftBank Group is anticipated to report a quarterly profit of $1.87 billion, driven by successful IPOs of its portfolio companies. However, gains were partially offset by a stronger yen.
November 11, 2024 | 5:30 am
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SoftBank Group is expected to report a $1.87 billion profit for the quarter, primarily due to successful IPOs of its portfolio companies. The stronger yen has slightly dampened foreign currency gains.
The anticipated profit is a positive indicator for SoftBank's financial health, likely boosting investor confidence and stock price. The impact of the stronger yen is noted but does not overshadow the positive earnings news.
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