SoftBank Group reported a first-quarter net profit of ¥347.3 billion ($2.2 billion). This result represents an 18% year-over-year decline but significantly exceeds analyst expectations.
A ¥1.33 trillion ($8.2 billion) unrealized gain on Intel shares primarily drove the performance. The company's Vision Fund segment also recorded gains from its stake in TikTok parent ByteDance.
However, the Vision Fund's overall profit fell sharply compared to the previous year. SoftBank reported no new investment gain or loss from its OpenAI stake, as the AI company's valuation remained unchanged during the quarter.