Japanese tech investor SoftBank posts $7.7bn quarterly net profit

TOKYO: Tech investor SoftBank Group on Tuesday posted a net profit of 1.18 trillion yen ($7.7 billion) for the second quarter, returning to the black after net losses in the first quarter and in the last financial year.

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The Japanese company’s performance often undergoes dramatic swings because SoftBank invests heavily in tech startups and semiconductor firms, whose share prices are volatile.