SoftBank swings to $7 billion quarterly net loss, but shares jump 13.9%, CNBC reports

CNBC reports that SoftBank’s shares closed 13.9% higher as Asian tech stocks rebounded, despite its $7 billion fiscal second-quarter net loss. Revenue offered a brighter number: 2.22 trillion yen, beating the 2.02 trillion yen estimate. Reuters reports that SoftBank said it recorded a $3.7 billion loss on equipment investments for U.S. AI data centers after plans were revised.