SoftBank Corp, the Tokyo-based telecommunications arm of SoftBank Group, said on Aug. 4 that fiscal first-quarter net income rose 3.3% year over year to 150.1 billion yen (US$950 million).

Revenue increased 9.4% to a record 1.8 trillion yen (US$11.4 billion), beating S&P Global Visible Alpha estimates for both revenue and net income.

Operating income rose 4% to 302.3 billion yen (US$1.91 billion), supported by growth in the company’s enterprise, distribution, and financial services businesses.

SoftBank Corp maintained its forecast for the fiscal year ending March 2027 at 7.5 trillion yen (US$47.5 billion) in revenue, 1.1 trillion yen (US$6.96 billion) in operating income, and 560 billion yen (US$3.54 billion) in attributable net income.

In Japan, SoftBank Corp’s main operations cover mobile, broadband, advertising, and commerce.

The company said its financial services business has become a bigger source of earnings. In the prior fiscal year, operating income in that segment rose 107% year on year.

🔗 Source: SoftBank