Japanese mobile operator SoftBank revealed that its (Capex) capital expenditures excluding the Z Holdings Group increased to 58.306 billion yen in Q2 2020 against 50.480 billion yen in Q2 2019.
The wireless carrier said revenue increased 0.7 percent to 1,172,644 million yen. Revenue decreased by 32,641 million yen in the consumer segment due mainly to a decrease in revenues from sales of goods and others.
SoftBank said its revenue increased by 8,073 million yen in the Enterprise segment, fell by 6,561 million yen in the distribution segment, and increased by 35,246 million yen in the Yahoo segment.
SoftBank reported a 4 percent rise in first-quarter operating profit, supported by its enterprise and internet businesses. April-June profit reached 280 billion yen ($2.6 billion).
A fall in profit at its consumer business was offset by growth in enterprise as it benefits from growing demand for teleworking services amid the coronavirus outbreak.
SoftBank is making a push into online retailing through companies it controls. Z Holdings last week said operating profit from e-commerce topped its media business for the first time and online fashion retailer Zozo reported a big profit jump as shoppers shift online.
Parent SoftBank Group has cut its stake in the telco to 62.1 percent from 67.1 percent as CEO Masayoshi Son sells assets to fund a record 2.5 trillion yen share repurchase plan.
SoftBank Group reports its earnings on Aug. 11.
Japan’s third-largest wireless carrier maintained its forecast of flat operating profit of 920 billion yen for the current financial year ending March 2021.
Separately on Tuesday, the telco said it had under-reported 3 billion yen of income during the financial year ended March 2019, entailing additional taxes.
SoftBank is expecting revenue of 4,900,000 million yen, operating income of 920,000 million yen, and net income of 485,000 million yen.