Japan's SoftBank Q1 profit drops 18% but beats estimates on Intel, ByteDance gains

business-standard.com

SoftBank Group reported an 18% drop in first-quarter profit, beating estimates, buoyed by gains on Intel and ByteDance investments despite no gain from OpenAI. Net income for April–June was 347.3 billion yen. Investment gains totaled 1.86 trillion yen, led by its stake in Intel, plus gains from TikTok parent ByteDance. SoftBank invested in Intel last year amid its restructuring. SoftBank’s OpenAI investment, set to reach $64.6 billion by October for about 13% ownership, totals $45 billion in gains. CFO Yoshimitsu Goto dismissed AI bubble fears, citing strong demand and limited supply.


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