Rakuten Group Inc. (RKUNY)
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Rakuten Group, Inc. (RKUNY) Q3 2024 Earnings Call Transcript
Rakuten Group, Inc. (OTCPK:RKUNY) Q3 2024 Earnings Conference Call November 13, 2024 1:45 AM ET Company Participants Hiroshi Mikitani - Chairman, President and Chief Executive Officer Kenji Hirose - Chief Financial Officer Ting Cai - Group Senior Managing Executive Officer, Chief Data Officer, Group Senior Managing Executive Conference Call Participants Unidentified Company Representative Good afternoon, and thank you for joining Rakuten's 2024 Third Quarter Financial Results meeting. We have disclosed the latest consolidated financial report at 3:30 p.m.
Rakuten: Q3 Marks A Profitability Inflection Point
Rakuten achieved positive quarterly operating profit for the first time in 17 quarters, with an operating income of JPY 537 million for Q3 2024. RKUNY suffered from operating losses for four straight years running in the 2020-2023 time frame, and I expect a turnaround with expectations of positive operating profit for Rakuten in 2025. I stick to my existing Buy rating for Rakuten, as it has reached a profitability inflection point and is deserving of higher valuations.
Mizuho Financial Group to buy 15% of Rakuten Card for $1 bln
Japan's Mizuho Financial Group will take a 15% stake in Rakuten Group subsidiary Rakuten Card for 165 billion yen ($1.06 billion) in a further deepening of the two companies' strategic alliance, they said on Wednesday.
