By Kosaku Narioka
SoftBank Group shares rose to a record intraday high after a better-than-expected first-quarter profit, mainly due to a recovery in its tech funds business.
Shares were last up 13% at 14,135 yen, a record intraday high, on Friday in Tokyo.
The Japanese technology investment company said after Thursday's market close that it booked a net profit of Y421.82 billion yen, equivalent to $2.87 billion, for the three months ended June.
That compared with a net loss of Y174.28 billion in the year-earlier period and exceeded the estimated net profit of Y100.06 billion in a poll of analysts by data provider Quick.
The bottom line was boosted by gains from its stakes in Nvidia, e-commerce company Coupang, robotic warehouse automation company Symbotic and others.
Its Vision Funds business posted a profit of Y451.39 billion, compared with a Y204.30 billion loss a year earlier.
Shares of SoftBank Group had risen 37% so far this year through Thursday's close, fueled by hopes that the companies it has invested in, including U.K. chip-design unit Arm Holdings, will benefit from growing demand for artificial intelligence.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
August 07, 2025 21:12 ET (01:12 GMT)
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