SoftBank’s third-quarter earnings recovery seen driven by IPO boom

TOKYO (Reuters) – SoftBank Group Corp is expected to extend earnings recovery when it reports third quarter results on Monday as frothy markets drive a rally in the value of its tech investment portfolio and offer fertile ground for listings.

The Japanese conglomerate is seen posting a net profit of 171 billion yen ($1.63 billion) in the October-December quarter, according to an average estimate of four analysts polled by Refinitiv SmartEstimate.