Profit at Japan’s SoftBank zooms on lucrative investments

TOKYO (AP) — Japanese telecommunications and technology conglomerate Softbank Group Corp. is reporting a whopping 1.17 trillion yen ($11 billion) profit for the October-December quarter as its investments rose in value. SoftBank said Monday that its profits were far better than what analysts had expected, zooming up 21-fold from its profit the previous year. The value of its investments rose, including in DoorDash, a U.S. food delivery service, and Uber, a U.S. technology company that offers ride-hailing and deliveries. SoftBank’s investment portfolio got an overall healthy boost from booming global stock markets.