Softbank Corp. said its third-quarter net income fell 64 percent in the absence of a one-time gain.
Net income dropped to ¥17 billion in the three months that ended Dec. 31, from ¥46.7 billion a year earlier, Tokyo-based Softbank said Thursday. Profit last year was bolstered by a ¥57.2 billion gain from the listing of Alibaba.com Ltd. Softbank owns a stake in Alibaba's parent.
Softbank maintained its forecast for operating profit to rise 24 percent next fiscal year as it adds customers and raises user spending through data services. The Tokyo-based operator introduced cheaper calling plans at the expense of profitability that let the company attract more users than larger rivals NTT DoCoMo Inc. and KDDI Corp. for 20 straight months to Dec. 31.
Operating profit, or sales minus the cost of goods sold and administrative expenses, rose 2.4 percent to ¥94.7 billion in the third quarter, while revenue declined 5.9 percent to ¥653.3 billion, Softbank said.
The company kept its forecast for operating profit to climb to ¥420 billion next fiscal year, from ¥340 billion estimated for the 12 months ending March 31.
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