SoftBank nets $16 billion on Arm earnings pop, exceeding its total losses in WeWork
Publishing timestamp: 2024-02-07 20:42:12
Summary
SoftBank gained over $16 billion in after-hours trading on its Arm stock, offsetting the losses from its investment in WeWork. Arm's shares surged after reporting strong revenue and earnings. SoftBank acquired Arm in 2016 and still owns about 90% of the company's outstanding stock. However, SoftBank is currently under a lock-up provision that prevents it from selling its Arm shares until mid-March.
Sentiment: POSITIVE
Keywords: breaking news: technology, business news, alibaba group holding ltd, breaking news, softbank group corp, arm holdings plc, masayoshi son, technology,