The results mark SoftBank's second consecutive quarter of profit and follow its first annual profit in four years when it was helped by a strong performance by its telecom holdings and higher valuations for its later-stage startups.

Public gains from companies like Grab, Symbotic, and Swiggy contributed to the Vision Fund’s performance, while private investment growth was buoyed by a rebound in fintech and India portfolios.

SoftBank Group on Thursday reported a significantly better-than-expected fiscal first-quarter profit, driven by a strong rebound in its Vision Fund segment. The Japanese investment conglomerate posted a profit of ¥421.

Japanese tech investor SoftBank’s Vision Fund 2 reported healthy valuation gains in Q1 on the back of rising share prices of Swiggy.

SoftBank Group reported Q1 profit of $2.87 billion, beating forecasts. Vision Fund’s $4.8 billion gain was the key driver, supported by AI-linked investments. SoftBank leads $40B funding for OpenAI and is acquiring Ampere Computing for $6.5B.

SoftBank posts surprise $2.87B Q1 profit, driven by Vision Fund gains from companies like Grab, Swiggy, and strong public and private tech investments.

SoftBank Group Corp. sees profit surge from Vision Fund, but Indian investments lag; focus shifts to exits and IPOs.