SoftBank Group reported a net profit of ¥1.83 trillion ($11.6 billion) for the quarter ending March 31.
This result represents a more than threefold increase from the ¥517.18 billion recorded in the same period last year.
The profit significantly exceeded the average analyst estimate of ¥295.2 billion.
A ¥3.04 trillion gain on investments drove the performance.
Rising valuations for AI pioneer OpenAI primarily fueled these gains.
SoftBank’s cumulative investment in OpenAI reached $34.6 billion by the end of the quarter.
This result marks the fifth consecutive profitable quarter for the Japanese conglomerate.
The streak highlights founder Masayoshi Son’s strategic pivot toward artificial intelligence.
SoftBank shares climbed in Tokyo trading following the announcement.