Japan's SoftBank posts quarterly profit after four straight losses, driven by Vision Fund gains

SoftBank posted its first quarterly profit after four quarters of losses, smashing through analyst estimates, driven by massive gains at its flagship tech investment arm, the Vision Fund.

Here’s how SoftBank did in the December quarter against LSEG estimates:

• Net sales: 1.77 trillion Japanese yen versus 1.8 trillion Japanese yen expected.
• Net income: 950 billion Japanese yen versus 196.5 billion yen expected.

SoftBank’s flagship tech investment arm had a rough time in the fiscal year that ended in March last year, posting a record loss of around $32 billion amid a slump in tech stock prices and the souring of some of the business’ bets in China.