SoftBank Profit Tops Estimates as Sprint Merger Talks End
Sprint Shares, Bonds Plunge as T-Mobile Deal Collapses
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SoftBank Group Corp. reported quarterly profit that topped analysts’ estimates, as its U.S. unit Sprint Corp. faces an uncertain future after talks to merge the carrier with T-Mobile US Inc. collapsed.
Operating profit was 396 billion yen ($3.5 billion) in the period ended September, the Tokyo-based company said in a statement Monday. That’s more than the 322 billion yen average of analysts’ projections compiled by Bloomberg. Sales came in at 2.23 trillion yen, matching predictions.