By Kosaku NariokaSoftBank Group reported a narrower fiscal-year net loss thanks partly to a recovery in its tech funds business. The Japanese technology investment company said Monday that it booked net loss of 227.65 billion yen ($1.46 billion) for the fiscal year ended March 31, compared with a Y970.14 billion net loss the previous year. The result was worse than the estimated Y99.3 billion profit in a poll of analysts by data provider Visible Alpha. On Wednesday, U.K. chip-design unit Arm Holdings posted a sharp increase in net profit for the three months ended March as revenue jumped thanks partly to higher demand for AI and data centers. Write to Kosaku Narioka at kosaku.narioka@wsj.com(END) Dow Jones Newswires05-13-24 0234ET

Source: Wall Street Journal May 13, 2024 06:37 UTC