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SoftBank dumps Alibaba shares, swinging into profit
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fnlondon.comJapanese technology investor SoftBank on 11 November reported a profit of more than $21bn in the three months to September, after gains from a sale of some of its stake in Chinese e-commerce company Alibaba offset losses at its Vision Fund investments.
SoftBank posted a net profit of ¥3.034tn for the quarter ended 30 September. That compares with a record quarterly loss of ¥3.16tn in the April-June quarter, and a net loss of ¥397.94bn a year earlier.
SoftBank...
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