TOKYO (Reuters) – 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
April-June profit reached 280 billion yen ($2.6 billion). That compared with the 262 billion yen average of two analyst estimates compiled by Refinitiv.
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.
SoftBank is making a major push into online retailing through companies it controls. Z Holdings Corp last week said operating profit from e-commerce topped its media business for the first time and online fashion retailer Zozo Inc reported a big profit jump as shoppers shift online.
Parent SoftBank Group