Softbank Posts Unexpected Loss, Announces $3.4 Billion Buyback
Softbank Group Corp., the renowned tech investment giant, reported an unexpected loss in its first quarter, despite the optimistic rise in technology valuations due to artificial intelligence. The company revealed a net loss attributable to owners amounting to 174.28 billion yen, a significant improvement compared to the 477.62 billion yen loss recorded in the same period last year. Nonetheless, Softbank announced a share buyback worth 500 billion yen ($3.4 billion) in response to mounting investor pressure.
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