SoftBank reported an eye-watering $6.5 billion loss in the wake of WeWork's catastrophic failed IPO

Rosie Perper 14 minutes ago

FILE PHOTO: SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo, Japan, February 8, 2017.  REUTERS/Toru Hanai

SoftBank Group recorded an eye-watering quarterly loss of $6.5 billion early Wednesday, spurred by some of it biggest tech invstments like Uber and WeWork. 

The Japanese investment giant last month spent over $10 billion bailing out WeWork after its failed IPO attempt. 

Read all of Business Insider's WeWork coverage here.

SoftBank Group recorded a masssive quarterly loss of $6.5 billion, spurred by some of it biggest tech bets like Uber and WeWork. 


소프트뱅크, 위 워크(WeWork) IPO 실패로 65억 달러 손실 발생

  일본의 거대 투자회사 소프트뱅크는 7월부터 9월까지 7040억엔(64억6000만 달러)의 손실로14년 만에 처음으로 분기별 영업손실을 발표했다.

전년도 이익은 7,060억엔(64억7000만 달러)이었다.

이 회사의 엄청난 손실은 지난 달 IPO 시도가 실패로 돌아간 후 100억 달러 이상의 구제금융을 받은 우버와 위워크같은 창업회사에 투자함으로써 엄청난 재정적인 위험을 무릅쓴 이후 나온 것이다.

황기철 콘페이퍼 에디터 큐레이터

Ki Chul Hwang, conpaper editor, curator

edited by kcontents

The Japanese investment firm reported its first quarterly operating loss in 14 years, stating it plunged by 704 billion yen ($6.46 billion) in the July-September period.

edited by kcontents

It was operating on a profit of 706 billion yen ($6.47 billion) the year prior. 

The company's huge loss comes after its firebrand founder Masayoshi Son took huge financial risks by investing in startups like Uber and WeWork, which last month received more than $10 billion in bailout money after its failed IPO attempt. 

This is a developing story.

SoftBank Group Corp. Earnings Results Briefing for Q2/FY2019


Posted by engi, conpaper Engi-

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