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SoftBank Group Corp. posted a first-quarter net profit of $2.2 billion, handily beating analyst forecasts thanks to an $8.2 billion gain on its Intel investment, while its high-profile stake in OpenAI yielded no valuation change.
SoftBank Group reported fiscal first-quarter net income of $2.2 billion, topping consensus estimates thanks to a $8.2 billion equivalent boost from its Intel position, despite flat performance from its OpenAI stake.
A $8.2 billion gain on SoftBank's Intel stake pushed fiscal first-quarter net profit to 347.3 billion yen, far beyond analyst estimates, while OpenAI contributed no investment gain or loss.
