SoftBank Group reported strong quarterly earnings that beat expectations, driven by significant gains from its technology investment arm Vision Fund, marking the fund's best performance since the fiscal quarter ended June 2021.

In the first fiscal quarter ended June, the company posted a profit of 421.8 billion yen ($2.87 billion), compared to a forecast of 127.6 billion yen, versus a loss of 174.28 billion yen in the same period last year. The value of Vision Fund's investments increased by $4.8 billion, while the fund's net profit reached 451.4 billion yen.

SoftBank hit an all-time high before the results were announced, up more than 36% year-to-date, adding nearly $37 billion to the company's market capitalization.