The Digital Source For China's Tech Innovation Since 2000

Softbank lost $3 billion last quarter despite AI hype

August 8, 2023
Source: qz.com qz.com
News Snapshot:
After two years of mostly being in the red, Softbank was expected to turn a profit in the quarter ending June 30 . The combination of shedding Alibaba stock and the soaring tech stocks in its Vision Fund portfolio, analysts thought, would tip Softbank into the black. But the chips didn’t quite fall that way. Softbank posted a surprise net loss of 477.6 billion yen ($3.3 billion) in the second quarter, it said in its earnings release today (Aug. 8). In particular, it lost money on its investments, chalked up mainly to “declines in the share prices of Alibaba, Deutsche...
Go To Original Source →
Tags: advertising | agriculture | AI | Alibaba | ARM | artificial intelligence | Bloomberg | Business | Chinese | chips | Deutsche Telekom | Founder | fruit | fund | investment | ipo | IT | listing | loss | Masayoshi Son | mobile | online shopping | stocks | technology | United Kingdom

Other Related News:

Russia’s Victory Day parade begins, marking the 80th anniversary of the defeat of Nazi Germany

May 9, 2025

Genesis to tackle electric, plug-in hybrid BMW, Benz SUVs with new range-extender

May 9, 2025

Ban this foreign filth! Can cinema really threaten national security?

May 9, 2025

The Irish companies doing business in China: ‘The revenue potential for us is €300 million’

May 9, 2025

Scientists Have a Radical Plan to Grab a Sample of Venus's Toxic Atmosphere

May 9, 2025

Here's a peak inside the new grocery store in Vancouver

May 9, 2025

UK-US pact neither a free-trade agreement nor broad trade deal of Brexiteer dreams

May 9, 2025

German defense firm partners with Iceye to build SAR satellites

May 9, 2025

The US is reportedly encouraging countries to adopt Musk’s Starlink in tariff trade talks

May 9, 2025
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2025 ChinaTechNews.com. A Service of Asia Media Network.
Twitter