SoftBank third-quarter profit rises 6.8 percent on strong domestic telecoms business

November 7, 2016 1:20 AM EST

People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo


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TOKYO (Reuters) - Japan's SoftBank Group Corp <9984.T> reported on Monday a 6.8 percent rise in operating profit for the July-September quarter, thanks to a strong showing by its domestic telecommunications business.

Second-quarter profit rose to 334.7 billion yen ($3.21 billion) from 313.4 billion yen a year earlier. That compared with a 287 billion yen average estimate from two analysts, according to Thomson Reuters Starmine.

SoftBank completed in September the $32 billion acquisition of UK chip designer ARM Holdings, Britain's most valuable technology company, in Japan's largest ever outbound deal.

(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)



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