TOKYO: SoftBank Group Corp on Tuesday reported a 12% rise in net income in the first quarter but broke with tradition by not report operating profit, saying it was"not useful" as a measure of the conglomerate's investment performance.
Net profit was 1.3 trillion yen in the April-June quarter after the group booked a gain following the merger of U.S. wireless carrier Sprint with T-Mobile US Inc. The result compared with 1.2 trillion yen in the same period a year earlier. SoftBank's $100 billion Vision Fund posted an investment gain of 297 billion yen in the quarter as the fund sold down assets and revalued its portfolio upwards. - Reuters
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