TOKYO (Reuters) – Japanese technology giant SoftBank (TYO:) Group showed quarterly profit on Monday compared with a year earlier, reporting net profit of 328.9 billion yen ($2.11 billion) for the January-March period.
The result marks the second straight quarter of profit for SoftBank, which has long been known for both volatile earnings and excessive bets on technology companies.
In February, Chief Financial Officer Yoshimitsu Goto said the company was returning to a “growth trajectory.”
Yet it was not a runaway success. The investment arm of the Vision Fund recorded an investment loss of 57.5 billion yen after three consecutive quarters of profit.
The net profit at the group level compared with a loss of 32 billion yen in the same period a year earlier, when capital was raised using SoftBank’s stake in Alibaba (NYSE:) The group mitigated some declines in the value of Vision Fund’s private portfolio companies.
($1 = 155.8500 yen)