Rakuten logs $213 billion quarterly loss as mobile losses negate fintech growth

TOKYO, May 14 (Reuters) – Japan’s Rakuten Group
on Tuesday logged an operating loss of 33.3 billion yen ($213
million) in the January-March quarter, its 15th straight quarter
in the red as losses in its mobile unit weighed on robust growth
in its fintech business.

The operating loss marks a strong improvement compared to a
year earlier when the e-commerce and fintech group posted a loss
of 76.2 billion yen.

($1 = 156.4800 yen)
(Reporting by Anton Bridge; Editing by Tom Hogue)