Rakuten Group Q1 2026 Financial Results: A Turning Point Quarter
Financial Highlights
Rakuten Group dropped its Q1 2026 earnings on May 14, 2026, and the headline says it all — this was "the first Q1 profit since fully entering the MNO business."
| Item | Result | Year-over-year change |
|---|---|---|
| Consolidated revenue | 643.6 billion yen (all-time high) | +14.4% |
| Consolidated Non-GAAP operating income | 36.3 billion yen | +36.6 billion yen improvement |
| IFRS operating income | 30.4 billion yen | +45.8 billion yen improvement |
| EBITDA | 108.8 billion yen | +36.2% |
| Pre-tax quarterly profit/loss | 17.4 billion yen surplus | +63.2 billion yen improvement |
Key Topics
- Number of contracted lines: 10.36 million lines as of end of March 2026 (net increase of 1.74 million lines year-over-year)
- EBITDA profitability: First time hitting a surplus even after factoring in fixed asset tax expenses
- Base station construction: Starting Q2, Rakuten plans to bring pre-construction work like site searches in-house to speed up the rollout