SoftBank posts a quarterly profit of $11 billion to end a turbulent 12 months.

SourceThe New York Times
SectorFinancial Markets
CountryMiddle east

Recovery in Oil Prices Pushes Markets Higher: Live UpdatesSoftBank posts a quarterly profit of $11 billion to end a turbulent 12 months.Feb. 8, 2021, 7:36 a.m. ETFeb. 8, 2021, 7:36 a.m.

ETBy Ben DooleyA DoorDash delivery person in Los Angeles last week. Softbank’s investments in DoorDash soared after the delivery company held an initial public offering in December.Credit...Mario Anzuoni/ReutersFor many technology companies, the past 12 months have been a roller coaster, starting with a pandemic-driven market-wide sell-off in March and ending with one of the largest stock market run-ups in history. But for Japan’s SoftBank, which manages the world’s largest tech investment fund, it has been an especially wild ride.In an earnings report released on Monday, SoftBank notched more than $11 billion in profit for the three months that ended in December, driven by surging values for the company’s portfolio of holdings in companies like Uber and the food delivery app DoorDash, which have experienced whiplash changes in their share...read more...