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Prudential Financial posts net loss of $2.409 billion
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Prudential Financial Inc (NYSE:PRU) has a forward P/E of 6.00 which is below its current P/E of 9.65 indicating that the earnings of the company are expected to increase in the future. The company reported a net loss of $2.409 billion or $6.12 per share compared to a net income of $708 million or $1.71 per share in Q2 2020. Operating income was $742 million or $1.85 per share relative to the same quarter a year ago when operating income was $1.262 billion or $3.03 per share.
The company has continued to shift to low guarantee products and its executives indicated that they are trying to shed individual life as well as annuity benefits by focusing on variable products.
CBS Reports Growth In Subscription And Ad Revenue for Pluto TV
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CBS Corporation Common Stock (NASDAQ:VIAC) is also another stock whose earnings are likely to rise in the future since it has a forward P/E of 5.80 which is way below its current P/E of 6.11. In Q2 2020 CBS, All Access and Showtime grew subscribers in the US to 16.2 million which is a 74% YoY increase. Ad-supported services, Pluto TV had 33 million active subscribers per month with around 26.5 million being in the US which is a YoY growth of 61%.
ViacomCBS Group revenue in the second quarter dropped 12% YoY to $6.27 billion but digital video and domestic streaming revenue grew 25% to $489 million which was mainly due to the growing ad and subscription revenue for Pluto Tv.
DISCOVERY Reports Revenue of $2.541 billion in Q2
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Another stock that is expected to increase its earnings in the future is DISCOVERY COMMUNICATIONS INC (NASDAQ:DISCA) whose forward P/E of 6.63 is way below its current P/E of 11.01. The company reported its Q2 2020 results in which ad revenue dropped 14% due to lower demand resulting from the pandemic. However, portfolio networks received significant primetime share with TLC having its best-ever quarter. Revenue dropped 12% to $2.541 billion and the company posted a net income of $271 million or $0.40 per diluted share.
The company's CEO David Zaslav revealed that the company was almost unveiling a new direct to customer service encompassing all its characters and brands. David said the new products are a new SUV of brands and will be a differentiated service with fresh and large content.
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COMTEX_369233460/2700/2020-08-11T11:02:23
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