SoftBank Corp, the Japanese mobile carrier with ambitious plans to grow overseas, slashed its full-year profit forecast on bleak prospects for its U.S. Sprint Corp business as it reported a 23 percent drop in second-quarter operating profit. In a statement on Tuesday, SoftBank said it now expects an operating profit of 900 billion yen ($7.9 billion) in the 12 months through March 2015, 10 percent down from the 1 trillion yen it previously forecast.SoftBank bought the number the three U.S. mobile carrier for $21.6 billion last year. On Monday Sprint said it will fire 2,000 employees and make leadership changes as it seeks to cuts costs after several quarters of losses.The Japanese company also said July-September operating profit was 259.0 billion yen, down from 337.1 billion a year earlier and below the 296.9 billion yen average of estimates made by four analysts, according to Thomson Reuters StarMine.(1 US dollar = 113.3800 Japanese yen)
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.13% or $-0.05/share to $37.17. In the past year, the shares have traded as low as $33.21 and as high as $38.73. On average, 747537 shares of TRI exchange hands on a given day and today's volume is recorded at 651218.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.62% or $0.26/share to $42.19. In the past year, the shares have traded as low as $36.86 and as high as $42.35. On average, 700705 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 638119.
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