Pursuits
SoftBank Profit Plunges on Sprint Losses, Slowdown in Japan
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SoftBank Corp., the wireless carrier controlled by billionaire Masayoshi Son, posted plunging third-quarter profit as Japanese subscriber growth stalled and losses widened at Sprint Corp. Shares fell.
Net income fell to 18.7 billion yen ($158 million) in the three months ended December, the Tokyo-based company said Tuesday. That compares with 89.6 billion-yen profit from a year earlier, according to a filing on the company’s website. SoftBank maintained its full-year targets.