New Street: Rakuten - Q1 20: Good in the core, but mobile losses rise further
Overall growth in Q1 accelerated to 18.2% from 15.1%, driven by growth accelerating in the Fintech business from 19% to 23%. Profitability also improved excluding the mobile business.Rakuten is mainly engaged in the Internet-related business. Along with its affiliates, Co. operates in two business segments. The Internet Services segment is engaged in the operation of electronic commerce sites, including an Internet shopping mall "Rakuten Ichiba," an online cash back site, a travel booking site, portal sites and digital contents sites; the sale of advertising on Co.'s sites; the provision of messaging and communication services; and the management of a professional baseball team "Tohoku Rakuten Golden Eagles." FinTech segment is engaged in the provision of Internet banking services and online securities trading services, and the credit card and life insurance businesses.
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