“Son’s(pic) handling of WeWork raises some fundamental questions about his investment strategy that need to be addressed, ” Jefferies Group senior analyst Atul Goyal said ahead of the earnings release. “There will be more failed investments in the future, how does he plan to handle them?”
TOKYO: SoftBank Group Corp reported its first quarterly operating loss in 14 years after writing down the value of some of its marquee investments, including WeWork and Uber Technologies Inc.
The operating loss was 704.4 billion yen (US$6.5bil) in the three months ended Sept 30, the Tokyo-based company said in a statement. That compares with a 230.8 billion yen average of analyst projections compiled by Bloomberg and a 705.7 billion yen profit a year earlier.
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