Softbank Q1 net loss 289.2 mln dlrs on broadband costs

TOKYO (AFP) Aug 08, 2003
Japan's largest Internet investor Softbank said Friday it made a net loss of 34.7 billion yen (289.2 million dollars) in the three months to June, largely due to continued spending on its broadband operations.

Softbank Corp posted a recurring loss of 30.6 billion on revenue of 103.9 billion yen.

The company did not provide comparative figures as it was the first time it has issued quarterly earnings.

Softbank said its earnings were hit by the continued investment needed to expand its broadband operations.

It said its broadband/infrastructure division recorded 23.8 billion yen in revenue for the period as subscribers rose.

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