SoftBank (9434) Q3 2025 Investor Call earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, was JPY 4,811.5 billion, up 7% year-over-year, with all segments contributing to growth.

• Operating income rose 12% to JPY 821.9 billion, and net income attributable to owners increased 7% to JPY 436.6 billion year-over-year.

• Adjusted EBITDA grew 4.8% to JPY 1,371.8 billion, reflecting higher operating income.

• All business segments, including Consumer, Enterprise, Media & EC, and Financial, reported increased revenues and profits.

• Major initiatives in AI, data centers, and a joint venture with OpenAI are underway, with strong ESG recognition.

Financial highlights

• Consumer segment revenue was JPY 2,181 billion, up 3% year-over-year, with mobile sales recovering.

• Enterprise segment revenue reached JPY 673.6 billion, up 10%, with cloud and security solutions growing 27%.

• Media & EC segment revenue was JPY 1,252.3 billion, up 4%, with operating income up 33% (excluding one-time factors, up 70%).

• Financial segment revenue was JPY 203.6 billion, up 19%, with PayPay's profitability improving and GMV up 23% to JPY 11.3 trillion.

• Distribution segment revenue up 35.2% to JPY 616.0 billion, with strong ICT and cloud product sales.

Outlook and guidance

• Management expects positive revenue and profit trends to continue for the full year, with upwardly revised earnings targets.

• 76% of full-year revenue, 87% of operating income, and 86% of net income forecasts achieved by Q3.

• FY2025 forecast: Revenue JPY 6,350.0 billion (+4.4% YoY), Operating income JPY 950.0 billion (+8.4%), Net income attributable to owners JPY 510.0 billion (+4.3%), Basic EPS JPY 10.66.

• No revisions to previously announced forecasts.

• Strategic focus remains on expanding AI, data centers, and financial services.