Don’t miss the latest developments in business and finance.

SoftBank shares up after Sprint says to be cash-flow positive next year

Image
Reuters TOKYO
Last Updated : Jul 26 2016 | 6:07 AM IST

TOKYO (Reuters) - Shares of SoftBank Group Corp climbed in early trade on Tuesday after its unit Sprint Corp reported better-than-expected first-quarter revenue and said it expected to be cash-flow positive next fiscal year after breaking even this year.

SoftBank, which has a majority stake in the No. 4 U.S. wireless carrier, rose as much as 4.7 percent to 5,460 yen.

(Reporting by Ayai Tomisawa; Editing by Chang-Ran Kim)

More From This Section

First Published: Jul 26 2016 | 5:54 AM IST

Next Story