SoftBank Group is due to release its first-quarter results on Tuesday, providing insight into the company’s performance. Here are the key details:
Net Loss Forecast
Analysts predict that SoftBank Group will report a net loss of 69.95 billion yen ($493.5 million) for the quarter ended June 30. This compares to a net loss of Y3.163 trillion in the same period last year.
First-quarter revenue is expected to have increased by 4.8% to Y1.648 trillion, according to a poll conducted by Visible Alpha.
What to Watch
SoftBank’s Vision Funds business suffered a loss of Y4.308 trillion in the fiscal year ending in March, primarily due to concerns about high inflation and rate increases by global central banks, which impacted technology stocks. Investors will be keen to see if there are any signs of recovery in this sector of SoftBank’s business.
SoftBank has plans to list British chip designer Arm in New York. Shareholders will be eager to receive more details about the proposed public offering.
Artificial Intelligence (AI)
At the annual meeting in June, CEO Masayoshi Son expressed his dedication to artificial intelligence and new inventions. SoftBank had previously been cautious about new investments following the global tech selloff and investment losses. Investors will be interested in any indications of new investment strategies by SoftBank Group.