Eurozone Still in Corporate Recession – Earnings to Decline for Third Consecutive Quarter in Q3 2019
According to latest analysis by Refinitiv, corporate recession continues into the third quarter in the Eurozone. Companies listed in European stock markets are expected to see a 4.7% decline in Q3 earnings, the same level estimated a week ago.
The outlook has improved slightly since the end of October when earnings were expected to decline by 8.6% in the third quarter. However, this still makes it the third consecutive quarter of decline in earnings, keeping Eurozone in a corporate recession.
This is the worst decline in earnings seen in three years among European listed companies. Among the earnings reported so far, there has already been a 5.8% decline in profits. While earnings estimates remain constant since the previous week, Refinitiv has trimmed down revenue estimates. Q3 revenues are expected to climb 1.4% higher according to latest estimates vs. 1.5% gain forecast during the previous week.
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