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Photo Illustration: Eniola Odetunde. Photo via Yoshikazu Tsuno/Getty Images

Japan's SoftBank Group on Monday reported $6.1 billion in third-quarter profit, with chairman Masayoshi Son telling analysts that "regardless of interest rates or regardless of who the president is, we want to continue to invest in the American market, and also in China."

Why it matters: This was a strong rebound for SoftBank, which had been bleeding red ink.

More from the analyst call:

  • Despite reports that SoftBank was the Nasdaq "whale," Son dismissed the characterization and pointed out that the call options represented only 1% of the company's holdings.
  • It had bought about $4 billion in options, and still holds about $16.8 billion in tech stocks like Amazon, Google, Facebook and Zoom.
  • SoftBank Vision Fund reported active investments in 83 companies, which cost $75 billion, were worth $76.4 billion at the end of September.
  • The second, smaller fund (which does not have outside limited partners) has cost $2.6 billion and a current fair value of $7.6 billion, in part thanks to KE Holding's IPO in August.

The bottom line: Son continued to make the case to investors on Monday that SoftBank has transitioned to being an investment company, even shooting down the prospect of making acquisitions

  • "99% I would say I don't have any intention to acquire 100% of a company right now," he said.

Go deeper

Jan 27, 2021 - Technology

Facebook stock whipsaws amid ad targeting concerns

Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

Facebook's stock showed volatility in after-hours trading Wednesday, despite adding users and beating on top and bottom lines.

Why it matters: Investors seem spooked by proposed changes to user data collection by Apple that would impact Facebook's ad business, in addition to perennial threats of new federal privacy regulations.

Dion Rabouin, author of Markets
Jan 28, 2021 - Economy & Business

Apple raked in $111 billion in revenue in a single quarter

Expand chart
Data: FactSet; Chart: Axios Visuals

Big Tech had a strong start to earnings season, as the S&P 500's heavy hitters reported Wednesday after market close.

What happened: Spurred by strong sales of the latest iPhones, Apple had its strongest quarter ever, raking in $111.4 billion in revenue for the three months ended Dec. 31, far outpacing expectations.

Felix Salmon, author of Capital
Jan 28, 2021 - Economy & Business

Where global investment is flowing

Data: UNCTAD; Chart: Axios Visuals

Cross-border investment fell off a cliff in 2020, dropping 42% to $859 billion from 2019's $1.5 trillion, according to official UN figures.

By the numbers: Developed countries saw a 69% reduction in inflows.

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