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Feb. 8, 2021, 4:30 a.m. EST

SoftBank posts $11.12 billion third-quarter profit

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By Kosaku Narioka

SoftBank Group Corp. posted third-quarter results on Monday. Here's what you need to know.

NET PROFIT: SoftBank Group posted a net profit of 1.172 trillion yen ($11.12 billion) compared with Y55.04 billion net profit a year earlier. That easily beat the estimate of Y98.51 billion expected in a poll of analysts by S&P Global Market Intelligence.

REVENUE: SoftBank Group's third-quarter revenue rose 11% from a year earlier to Y1.508 trillion.


--VISION FUND: Its Vision Fund segment posted Y844.13 billion profit thanks to gains in companies like DoorDash Inc. and Uber Technologies Inc., marking a sharp recovery from the Y223.93 billion loss the business suffered a year earlier. As of Dec. 31, SoftBank was sitting on $8.3 billion in unrealized valuation gains in DoorDash, the food delivery services company listed in December.

--CASH: SoftBank had cash and cash equivalents totaling Y4.452 trillion as of Dec. 31, down from Y5.015 trillion as of Sept. 30 but up from Y3.369 trillion at the end of March. SoftBank has been selling assets to buy back shares and repay debt. The company said it was important to further build up funds available on hand amid uncertainty caused by the Covid-19 pandemic.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

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