Rakuten logs US$213mil quarterly loss as mobile losses negate fintech growth

FILE PHOTO: A view of the logo of Rakuten Mobile at its branch in Tokyo, Japan, November 28, 2023. REUTERS/Anton Bridge/File Photo

TOKYO: Japan's Rakuten Group on Tuesday logged an operating loss of 33.3 billion yen ($213 million) in the January-March quarter, its 15th straight quarter in the red as losses in its mobile unit weighed on robust growth in its fintech business.

The operating loss marks a strong improvement compared to a year earlier when the e-commerce and fintech group posted a loss of 76.2 billion yen. - Reuters