SoftBank's Q2 profit tops estimates as Sprint gets back on track

Tokyo

SOFTBANK Group reported better-than-projected second-quarter profit, with the wireless and Internet businesses in Japan bringing in cash while Sprint Corp shows signs of improvement.

Net income was 512.1 billion yen (S$6.8 billion) in the period ended Sept 30, the Tokyo-based company reported on Monday. That's more than the 446.9 billion yen average of analysts' projections compiled by Bloomberg. Operating income for the quarter was 334.7 billion yen, compared with their prediction for 313.9 billion yen.