SoftBank Corp recorded profit and sales growth in its fiscal Q3 2024 (ending 31 December 2024), fuelled by double-digit revenue gains across its non-telecoms units and a turnaround in its mobile business.

On an earnings call, president and CEO Junichi Miyakawa (pictured) highlighted revenue grew across all segments, led by its financial unit which includes payment app PayPay.

He added it saw a steady recovery in its mobile business in first nine months of the fiscal year, reversing revenue declines in the last three fiscal years.

Fiscal Q3 2024 net profit rose 16 per cent year-on-year to JPY250.9 billion ($1.6 billion), with total revenue increasing 5.2 per cent JPY1.7 trillion.

Mobile service revenue rose 3.6 per cent to JPY388.2 billion on flat ARPU of JPY3,760.

The operator noted the increase was mainly driven by growth in smartphone subscribers, led primarily by the Y!mobile brand.

Its total mobile subscriber base dipped slightly to 54.4 million.

Equipment sales were steady at JPY204 billion.

Enterprise sales increased 9.4 per cent to JPY227.8 billion; the distribution segment 18.6 per cent to JPY185.3 billion; the media and e-commerce unit 40.8 per cent to JPY438.9 billion; and its financial business 20.2 per cent to JPY73.8 billion.

The number of monthly transaction users on PayPay increased 13.8 per cent to 36.2 million, with the number of standalone registered users growing 9 per cent to 67 million.