Softbank doubles FY13 revenue on Sprint buy

Dylan Bushell-Embling
09 May 2014

Japan's Softbank has announced it more than doubled its revenue for the financial year ending in March, as the company reaped the benefits of its acquisition of Sprint Nextel.

Net sales surged 108% to 6.67 trillion yen ($65.5 billion), due primarily to the 2.6 trillion yen in sales generated by Sprint during the period.

Net profit meanwhile grew 42% to a record 527 billion yen, and ebitda rose past the 1 trillion yen mark to 1.07 trillion.

Softbank's mobile service revenue grew 32% to 21 trillion yen. Softbank Mobile recorded 3.45 million net additions during the year, to take its total domestic subscriber base to 35.9 million.

Group-wide, including with Sprint's contribution, Softbank had over 100 million subscribers by the end of the year.

Softbank Mobile's total ARPU fell by 100 yen to 4,450 yen, but data ARPU grew by 150 yen to 2,930.

Fixed line net sales meanwhile grew 3.2% to 548 billion yen, but revenue at Softbank BB's broadband business fell due to a decline in the number of ADSL subscribers. Internet sales, including from the company's Yahoo Japan joint venture, grew 12.1% to 43.26 billion yen.

Softbank paid a hefty $21.6 billion to acquire a 78% stake in Sprint Nextel in 2013. The company has since raised its stake to over 80%.

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