Softbank reports 41% rise in profit on iPhone sales

2 Feb 2010

Japanese fixed and mobile operator Softbank Corp. said its fiscal third-quarter net profit jumped 41% year-on-year, driven by strong sales of the Apple iPhone at its wireless division. Softbank Mobile’s strong performance helped the group expand in the country’s cutthroat but profitable mobile market. Net income in the October-December quarter reached JPY24.11 billion (USD265 million), up from JPY17.07 billion a year earlier, while revenue rose 7% to JPY696.0 billion from JPY653.2 billion previously. Operating profit for Softbank Mobile, which is the group’s biggest division, shot up 80% from a year earlier, despite the negative impact of special accounting charges of about JPY47 billion booked during the period – the charges related equipment costs for older network services being phased out and upgrades to existing equipment. For FY2009/10, Softbank is forecasting operating profit of JPY420 billion.

Japan, SoftBank Group Corp