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SoftBank Operating Profit Rises as Son Sees Sprint Revival

  • Subscriber and average revenue continuing to grow in Japan
  • Chairman Masayoshi Son sees more scope to cut Sprint costs
Updated on

SoftBank Group Corp.increased third quarter operating income 7.3 percent on new Japanese wireless customers as billionaire Chairman Masayoshi Son sees signs of a turnaround at its beleaguered U.S. unit Sprint Corp.

Operating profit rose to 189.6 billion yen ($1.65 billion) in the three months ended Dec. 31, the Tokyo-based company reported on Wednesday. Net income fell 88 percent to 2.3 billion yen.