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SoftBank shares extend their surge, pop more than 15% on earnings
04:52
Asia Pacific
SoftBank shares extend their surge, pop more than 15% on earnings
Shares of Softbank soared 15% on Friday, only a day after the Japanese investment firm posted earnings that beat analysts' expectations. The company posted its first quarterly profit following four quarters of losses, thanks to gains at its Vision Fund. For the December quarter, SoftBank's net income was $6.36 billion, far exceeding LSEG estimates of 196.5 billion yen. It's bolstering the performance of the Nikkei - which has just hit fresh 34-year highs, and this comes after Bank of Japan's governor Kazuo Ueda said that easy monetary policy will persist even if the BOJ scraps its negative interest rate policy.
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