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Europe Inc's third-quarter profit outlook improves but still deep in red

Europe Inc's third-quarter profit outlook improves but still deep in red
FILE PHOTO: A trader sits in front of the computer screens at his desk at the Frankfurt stock exchange, Germany, June 29, 2015. REUTERS/Ralph Orlowski -
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Ralph Orlowski(Reuters)
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LONDON (Reuters) – Earnings expectations for European listed companies improved slightly for the third quarter but the region is still stuck in a corporate recession, data published on Tuesday showed.

Companies listed on the pan-European STOXX 600 index <.STOXX> are expected to report a 6.6% decline in earnings for the July-September quarter, compared with an 8.4% drop expected a week ago, according to the latest data from I/B/E/S Refinitiv.

That would mark the third straight decline and worst quarterly performance since Q2 2016.

Revenues in the quarter are now expected to rise 0.8% versus last week’s expectation of no growth.

Graphic: European earnings – https://fingfx.thomsonreuters.com/gfx/buzzifr/14/10036/10036/Pasted%20Image.jpg

(Reporting by Thyagaraju Adinarayan, edited by Julien Ponthus)

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