SoftBank Group Shares Fall After Surprise Quarterly Loss

Résumé détaillé

SoftBank Group shares fell after it swung to its first quarterly loss in nearly two years, dragged in part by $3.7 billion charges related to power-generation equipment for U.S.…

SoftBank Group shares fell after it swung to its first quarterly loss in nearly two years, dragged in part by $3.7 billion charges related to power-generation equipment for U.S. data-center projects.

The stock was 4.0% lower Wednesday morning in Tokyo after falling as much as 11% earlier.

The Japanese technology investment company said Tuesday after the market close that it booked a net loss of 1.115 trillion yen, equivalent to $7.02 billion, for the three months ended September. That missed analysts' estimates for a narrow net profit.

The company recorded $3.7 billion in losses due to procurement plan changes for power generation-related equipment for AI data-center projects in the U.S.

Commenting on the special losses, Chief Financial Officer Yoshimitsu Goto said the company rushed to secure some equipment that was in short supply in a nascent industry, and that it is necessary for SoftBank to reassess whether what it secured is really the best. SoftBank didn't go into detail about the charges in its earnings report.

SoftBank Group ordered so many power plant turbines that it was left with reservations for far more than it could possibly use, The Wall Street Journal reported.

Declines in the valuations of companies such as e-commerce company Coupang also weighed on its latest quarterly investment results.

Goto said that now isn't the time to invest aggressively, pointing to big stock-market declines and the widening of credit spreads.

SoftBank Group's broad exposure across AI, spanning automation, software, data centers and semiconductors, has increased its sensitivity to the recent pullback and volatility across AI-related equities, Macquarie analysts said.

Début de l'article, extrait de Morningstar. Pour lire la suite, ouvrez l'article chez le média.