Japanese investor SoftBank Group sinks into losses as company's AI hopes falter
TOKYO — SoftBank Group sank into losses for the latest quarter, the Japanese technology company reported Tuesday, as worries about investments in artificial intelligence hurt its bottom line.
TL;DR
- SoftBank Group reported a 1.1 trillion yen ($7 billion) loss for the quarter ending September.
- This is a reversal from a 2.5 trillion yen profit during the same period last year.
- Quarterly sales increased by 16% to 2.2 trillion yen.