Softbank Corp. (Japan)(OTCMKTS:SFTBY) witnessed some buying interest during Wednesday’s trading session. The stock has been trading in broad trading range between its two daily moving averages at the current moment. It is important to state that the stock has been in a strong uptrend ever since hitting an intraday low of $22.50. The momentum indicators have given a sell signal, indicative of the build up of selling momentum at current levels. The stock could find support near the $26.39 level. The relative strength index for the stock shows no signs of direction at the moment, which is a bearish sign.
Softbank Corp. (Japan)(OTCMKTS:SFTBY) has announced financial results for the recently concluded first six months of 2015. The net sale for the period was ¥4,423,802, 10% higher than the sales reported during the same period in 2014.
When it comes to operating income, Softbank managed to report a whopping 21.4% growth to touch a lucrative milestone of ¥685,766. Overall income before tax was accounted for ¥818,616, 15.1% higher on YOY basis. Although, global financial markets went through many difficult phases over the past six months or so, yet Softbank managed to report 16.4% growth in net income to touch ¥508,625 figure. Total comprehensive income surged to ¥481,723, up 36% from last year.
Earnings per share for this period were ¥359.56 compared to last year’s ¥471.74, whereas diluted earnings per share were ¥349.81 against last year’s ¥471.25.
Although the financial results for the first six months of the year are up to investors’ expectations, it doesn’t want to open up about the full-year forecasts. In a recent official statement, Softbank said that there are a lot of uncertain events going on simultaneously, which make it difficult for the company to determine the future earnings at this moment. Without giving an official date, Softbank announced that it would announce future outlook when the picture becomes 100% clear.
Other Changes Introduced During Past Six Months
Even though Softbank didn’t make any major change during the first six months of FY15, there are few important announcements that could be critical at times. One such announcement was a change of its name from SoftBank Group Corp to SoftBank Corp.
The entire senior management team of Softbank is delighted to announce these results and hopes that the company will live up to investors expectations in the future as well. Details about other financial, operational and strategic decisions taken by the company will be made public to everyone when the time’s right.