SoftBank back to black with $12 billion profit after record losses

Aran News Saudi Arabia12 Aug, 2020News

But he has battled opposition to his strategy of pouring money into start-ups � including troubled office-sharing firm WeWork � which some analysts say are overvalued and lack clear profit models. The 11.9 percent rise in net profit to $12 billion puts SoftBank back in the black after a turbulent financial year that saw its investment woes magnified by the coronavirus pandemic and plunges in global stock markets.