SoftBank reports record quarterly loss amid Uber, DoorDash downturn

Yahoo Finance Live anchors discuss first-quarter earnings for Softbank Group.

Video transcript

JULIE HYMAN: But in the meantime, elsewhere in technology SoftBank was trading actually a little bit higher in Japanese trading, interestingly, after the company reported a record quarterly loss of over $24 billion. This, after shares of Uber and DoorDash-- two companies, of course, that SoftBank was invested in-- fell more than 40% during the quarter.

And the commentary from Masason, who, of course, is the head of the company, was quite interesting where he said, you know, he got a little bit ahead of himself. He said, "When we were turning out big profits, I became somewhat delirious. And looking back at myself now, I'm quite embarrassed and remorseful." Well--

BRIAN SOZZI: And he should be.

JULIE HYMAN: --I mean, he's not alone. He's definitely not alone.

BRAD SMITH: Not at all. I mean-- but it also comes at a time where we know the private equity landscape is looking across all of the investments that they've made. And where some of those unicorns and decacorn companies are continuing to try and go back to them and either ask for more or sure up more capital, and where they're getting pushback, from vision funds like a SoftBank, or even where they are going to have the growth prospects to eventually turn profitable, and then give a company, like a SoftBank, that return on investment that they're looking for.

They're experiencing the same things that they publicly-traded equity and tech companies are going through right now. It's just a matter of being able to sure up capital and navigate the macroeconomic headwinds that even powerful companies once stalwarts, like Nvidia, are facing right now, too.

BRIAN SOZZI: I can't-- I can't get over this comment, Julie. "I became somewhat delirious." This is an accomplished investor. He's always talked about as forward-thinking and you name it. But to hear someone like that calling himself delirious, wow, talk about some humble pie.

And it also likely removes any chance of this company out there staying aggressive on the acquisition front. I think he wiped that off the table on that conference call that we've been tracking all morning long.

JULIE HYMAN: Well, it's clear from the investments that they made last quarter versus what they had made before. $600 million in investments in the April to June quarter. The peak, which was a year earlier, was $20.6 billion. So $600 million versus $20.6 billion. I mean, that tells you.

BRIAN SOZZI: I do feel better, you know, because I'm usually feeling delirious. So if Masa can feel delerious, at least I'm in good company with billionaires. So that makes me feel good about myself.

BRAD SMITH: Send him some of your coffee, too.

BRIAN SOZZI: I indeed will.

BRAD SMITH: Maybe I'll help out.