Japanese wireless carrier SoftBank Corp on Tuesday reported a 4% rise in first-quarter operating profit, beating analyst estimates, supported by its enterprise and internet businesses.
FILE PHOTO: A woman using a mobile phone walks past the logo of SoftBank Corp in Tokyo May 11, 2015. REUTERS/Toru Hanai/File Photo
A fall in profit at its consumer business was offset by growth in enterprise as it benefits from growing demand for teleworking services amid the coronavirus outbreak. Parent SoftBank Group Corp has cut its stake in the telco to 62.1% from 67.1% as Chief Executive Masayoshi Son sells assets to fund a record 2.5 trillion yen share repurchase plan.
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