Q2 operating profit hits 396b yen
TOKYO/NEW YORK: SoftBank Group Corp reported quarterly profit that topped analysts’ estimates, as its United States 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 (RM14.69 billion) in the period ended September, said the company in a statement yesterday. 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.
SoftBank’s founder Masayoshi Son has relied on a steady flow of cash from Japanese wireless and telecommunications operations to fund new endeavours, while Sprint has struggled to return to profit and stem subscriber losses.
Meanwhile, US cable operator Altice USA will sell mobile service on Sprint’s network under a new multi-year agreement announced on Sunday, becoming the latest firm to enter the wireless market in a bid to retain customers.
Under the terms of the agreement, Altice, the fourth-largest US cable operator, will use Sprint’s network to provide voice and data services in the US. It gave no timeline on when it would introduce such services.
The deal will also allow Sprint to use Altice’s cable infrastructure to transmit cellular data and develop a next-generation network, or 5G. Agencies