SoftBank Profit Beats Estimates on Boost to Subscribers in Japan
This article is for subscribers only.
SoftBank Corp., the Japanese carrier that acquired Sprint Corp for $21.6 billion, posted profit that beat analyst estimates after using Apple Inc.’s iPhone and acquisitions to lure subscribers.
Net income rose to 238.3 billion yen ($2.4 billion) in the three months ended June from 105.6 billion yen a year earlier, the Tokyo-based company said in a statement yesterday. That beat the 198 billion-yen median estimate of three analysts surveyed by Bloomberg News. Shares jumped the most in a week today.