Morning Beat: Sony Corp (ADR) (SNE), Barclays PLC (ADR) (BCS), and Facebook Inc (FB)

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Sony Corp (ADR) (NYSE:SNE) has posted a 666.7% increase in earnings for the full year ending March. Helped by strong sales in its gaming division, the Japanese hardware giant says its net profit came in at $2.7 billion. Operating profit on the other hand was up by 329% to $2.6 billion.

Strong demand for Play Station 4 led to an 11.8% increase in sales in the company’s Game and Network Services division. Operating income in the segment was up 84.3% to highs of $785million.

The mobile unit continues to drag the company’s earnings, having generated a net loss of $544 million.

Sony Corp (ADR) (NYSE:SNE) says it will give a forecast for the current year, on assessing the damage caused by severe earthquakes in the Kumamoto area where it has significant business operations.

Barclays PLC (ADR) (NYSE:BCS) has reached an agreement with Spanish online bank Bancopopular-e for the sale of its Barclaycard credit card in Portugal and Spain. The business comes with about $1.46 billion in assets. The selloff is part of a plan that seeks to make the bank lean and efficient as it looks to focus more on core operations.

Barclays PLC (ADR) (NYSE:BCS) is in the process of offloading its retail banking businesses in Italy, Portugal, and Spain. It is also in discussions with AnaCap Financial Partners with whom it hopes to ink a deal for the sale of its retail operations in France.

Facebook Inc (NASDAQ:FB) posted better than expected first-quarter earnings having received a boost from the robust mobile advertising business. The giant social network posted earnings of $1.51 billion or 77 cents a share, up from $512 million posted last year. Revenue came in at $5.38 billion against consensus estimates of $5.26 billion.

Monthly active users a key metric of the company stood at 1.65 billion as of the end of the quarter, up from 1.44 billion as of the first quarter of last year. Facebook Inc (NASDAQ:FB)’s earnings beat came just days after Apple Inc. (NASDAQ:AAPL) and Twitter Inc (NYSE:TWTR) felt the wrath of the street on failing to beat estimates.

Apple Inc. (NASDAQ:AAPL)’s CareKit platform has gone live with four health apps that people can use to track diabetes, depression among other conditions. The platform also comes with a set of medical app development tools that developers can use to develop advanced software solutions for tracking various medical conditions.

The four apps launched include fertility tracker Glow Nurture; maternity app Glow Baby; diabetes monitoring app One Drop; and depression medication tracker Start. All the four apps are limited to iPhone users.

Apple Inc. (NASDAQ:AAPL) has also confirmed that it is making CareKit available on Github. The main idea behind the platform is to have iPhone users share data with health professionals that should help improve medical care.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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