Trending: SoftBank Group Reports Record Quarterly Loss

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0833 GMT – SoftBank Group Corp. is the most mentioned Asian company in the news over the past two hours, according to Factiva data, after the investment group reported a record quarterly loss. It was the second sequential record quarterly loss for Softbank Group, whose Vision Fund investments fell in line with a global selloff of technology shares, including Uber Technologies and DoorDash Inc. Softbank Chief Executive Masayoshi Son said in May that the group is switching to a defensive policy and the company reiterated the sentiment on Monday, while announcing a net loss equivalent to $23.4 billion. It said it has shown “heightened investment discipline” and turned some of its older investments into cash to shore up its financial strength, Softbank said. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)

 

(END) Dow Jones Newswires

August 08, 2022 04:49 ET (08:49 GMT)

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