Gate.io data, November 12th news, Japan's SoftBank Group Corporation reported that quarterly profits improved due to successful Indian listings and Ribaund-driven technology valuations. The company announced net income of 1.18 trillion yen (about 7.7 billion US dollars) in its September quarter report. This marks a turnaround from a net loss of 930 billion yen last year. Analysts had predicted an average net income of about 295 billion yen for the period. The Vision Fund recorded a profit of 373 billion yen, thanks to strong IPOs of Indian startups and valuations pump of Coupang and Didi Global.
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SoftBank turns losses into profits with the hot Indian IPO market
Gate.io data, November 12th news, Japan's SoftBank Group Corporation reported that quarterly profits improved due to successful Indian listings and Ribaund-driven technology valuations. The company announced net income of 1.18 trillion yen (about 7.7 billion US dollars) in its September quarter report. This marks a turnaround from a net loss of 930 billion yen last year. Analysts had predicted an average net income of about 295 billion yen for the period. The Vision Fund recorded a profit of 373 billion yen, thanks to strong IPOs of Indian startups and valuations pump of Coupang and Didi Global.