The following is a summary of the SoftBank Corp. (SOBKY) Q2 2024 Earnings Call Transcript:

Financial Performance:

• SoftBank reported revenue of ¥1,535.7 billion for Q2 2024, a 7% increase, marking a record high for the first quarter on a stand-alone basis.

• Operating income rose 23% to ¥303.9 billion, achieving record-high results.

• Net income was ¥162.5 billion, representing an 11% increase.

• Notably, the Financial business, previously loss-making due to PayPay consolidation, turned profitable.

Business Progress:

• PayPay achieved positive operating income for the first time on a quarterly basis.

• A strategic alliance was formed with Perplexity to introduce an AI search engine, significantly increasing search volume by 1000% year over year.

• To bolster AI capabilities, the Enterprise business is expanding in-house development services.

• Announced MOU with Sharp Corporation for the construction of an AI data center at Sharp's Sakai plant, aimed at enhancing next-generation social infrastructure.

Opportunities:

• SoftBank's Consumer business saw stable growth, while its AI initiatives and strategic partnerships, such as with Perplexity and Sharp, offer significant growth opportunities in emergent AI markets.

Risks:

• The gradual growth of AI services as operations expand and the risk of dependency on continuous technological advancements in areas like AI centers and intensive capital requirements for infrastructure.

More details: SoftBank (ADR) IR

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