Softbank Q2 makes profits by selling Alibaba shares
The core vision fund of $SOFTBANK GROUP CO(SFTBY.US$ reported a quarterly loss of $7.2 billion, as the sharp decline in the valuation of start-ups continued to hit the company's financial performance.
The data released by Softbank showed that after the quarterly loss of 2.33 trillion yen in June, the vision fund department lost 1.02 trillion yen from July to September.
Overall, the Japanese enterprise group made a net profit of 3.03 trillion yen in the last quarter, thanks to the sale of most of Alibaba's shares. The company said that its total profit from selling Alibaba shares was 5.37 trillion yen.
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