Rakuten’s losses shrink in Q4 on robust e-commerce and fintech arms

By Thomson Reuters Feb 14, 2024 | 12:38 AM

TOKYO (Reuters) – Japan’s Rakuten Group on Thursday posted an operating loss of 33.3 billion yen ($221.25 million) in the October-December quarter, its fourteenth consecutive quarter in the red, as strong gains in its e-commerce and fintech arms failed to make up for its moey-losing mobile arm.

The result compares to an average estimate of 28 billion yen operating loss among eight analysts polled by LSEG.

Results for this quarter improved on an operating loss of 54 bilion yen in the previous quarter.

($1 = 150.5100 yen)

(Reporting by Anton Bridge; Editing by Shri Navaratnam)