SoftBank’s Net Profit Drops 39% in Q2 Amid Sale of Major Stock Holdings

SoftBank’s Net Profit Drops 39% in Q2 Amid Sale of Major Stock Holdings

(Softbank Group Corp.) SoftBank reported a net income of 762 billion Japanese yen in the second quarter of the year, a drop of 39% compared to the same period last year.

The fund’s net revenue in the second quarter was 1.4 trillion Japanese yen, an increase compared to 1.2 trillion Japanese yen in the same period of 2020.

The Tokyo-based conglomerate reported a dividend per share of 22 yen in the second quarter of the year and a DPS of 22 yen expected in the fourth quarter.  

SoftBank sold its stake in Facebook, Alphabet, Microsoft, and Netflix during the quarter and reduced its holding in Amazon to $5.6 billion from $6.2 billion.

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