SoftBank posts $6.2 billion quarterly loss as WeWork collapse, tech slump drag bottom line

SoftBank posted an investment gain on its Vision Fund in the fiscal second quarter but booked another quarterly loss.

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

  • Net sales: 1.67 trillion Japanese yen ($11 billion) versus 1.6 trillion yen expected
  • Net loss: 931.1 billion yen ($6.2 billion) versus an expected loss of 114.1 billion yen

For the first half of SoftBank’s fiscal year, it posted a 1.41 trillion loss ($9.3 billion). This compares to a 3 trillion yen profit in the same period last year. SoftBank said a weaker yen hit the company since it has a lot of U.S.-dollar denominated liabilities.