SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Shares of SoftBank Group gapped up from $43.35 to $46.72 before closing at $46.91, reflecting strong trading activity with a volume of 310,093 shares.
• The company reported a quarterly EPS of $1.16, significantly beating the consensus estimate of ($0.53), with revenues of $13.10 billion surpassing expectations.
• SoftBank has a market capitalization of $138.71 billion and operates in telecommunications and investment sectors through various segments including SoftBank Vision Funds and Arm.

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY - Get Free Report)'s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $43.35, but opened at $46.72. SoftBank Group shares last traded at $46.91, with a volume of 310,093 shares changing hands.

The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.74. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.24 billion. SoftBank Group had a net margin of 23.99% and a return on equity of 12.93%.

SoftBank Group Price Performance

The company has a current ratio of 0.75, a quick ratio of 0.73 and a debt-to-equity ratio of 0.89. The business's 50-day simple moving average is $35.04 and its two-hundred day simple moving average is $29.79.

SoftBank Group Company Profile

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.