SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up Following Earnings Beat

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $43.35, but opened at $46.72. SoftBank Group shares last traded at $46.91, with a volume of 310,093 shares changing hands.

The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.74. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.24 billion. SoftBank Group had a net margin of 23.99% and a return on equity of 12.93%.

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.73 and a current ratio of 0.75. The business’s 50 day moving average is $34.62 and its two-hundred day moving average is $29.73.

About SoftBank Group

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.