Softbank's first-half net profit down 22% at $2.13 bn
Wednesday, 31 October 2012
TOKYO: Japanese mobile carrier Softbank, which recently announced a $20 billion takeover of US firm Sprint Nextel, said Wednesday its half-year net profit tumbled 22 percent from a year ago.
The company posted a net profit for the six months to September of 169.4 billion yen ($2.13 billion) while sales rose 3.3 percent to 1.59 trillion yen.
Softbank said its half-year profit fell due to a special loss related to the slumping stock price of online games firm Zynga, in which it has a stake.
The cross-ocean marriage with Sprint -- the biggest overseas acquisition by a Japanese firm -- will see Softbank take 70 percent of the firm, the number three US carrier behind AT&T and Verizon Wireless. (AFP)