SoftBank's revenues rise 7.4% to $51.7B in 2020

Wednesday, 12. May 2021 08:24

SoftBank Group Corp. unveiled on Wednesday that its revenue for the entire fiscal 2020 grew by 7.4% compared to the year prior to reach ¥5.63 trillion ($51.67 billion).

The company's net income soared from the previous year's loss of ¥800.76 billion ($7.47 billion) to ¥5.08 trillion ($46.7 billion) or ¥2,437.3 ($22.4) per diluted share. The net income figure was the highest that the invested firm recorded to date.

"During the fiscal year, the global economic situation was greatly affected by the spread of the novel coronavirus (COVID-19) and the pandemic that followed, which continues to this day. [...] In particular, the technology sector, where the Company focuses its investment strategies, has been positively impacted by the accelerated adoption of digital services to address the pandemic," the company statement read.

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