SoftBank Reports Record $23 Billion Quarterly Loss

Global tech investor SoftBank Group reported a record quarterly loss of more than $23 billion Monday after an investment spree that Chief Executive Masayoshi Son described as delirious turned sour.

The results for the three months through June brought a mea culpa from Mr. Son, who sprayed unprecedented levels of funding on startups across the world over the past half-decade, particularly just as prices crested last year.