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European Union

Europe third-quarter earnings outlook deteriorates as trade war, Brexit bite

cde.news desk · 1 min read
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epa07496040 Flags fly in front of the European Central Bank (ECB) before a press conference of the Governing Council of the European Central Bank in Frankfurt Main, Germany, 10 April 2019. The bank is expected to publish its decisions on monetary policies, including the monthly interest rate. EPA-EFE/RONALD WITTEK

European companies are heading for their worst quarterly earnings in three years as revenue drops for the first time since early 2018, according to the latest Refinitiv data, underscoring concerns about Europe Inc’s deteriorating health.

Companies listed on the STOXX 600 regional index are expected to report a 2.2% drop in third-quarter EPS, worse than the 1.9% drop expected a week ago and the biggest quarterly fall since Q3 2016, according to I/B/E/S Refinitiv.

Consensus now calls for a drop in revenue of 0.3% in the quarter, which would be the first since Q1 2018, but slightly better than the 0.4% fall expected last week.

Via Reuters

Filed under European UnionFinancial News
Topics European Unionrefinitiv

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