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European second-quarter earnings estimate cut again: Refinitiv

LONDON (Reuters) – Companies listed on the pan-European STOXX 600 index are expected to report earnings growth of 0.2% in the second quarter, one of the the weakest in years and down from 0.8% estimated a week ago, according to data from I/B/E/S Refinitiv on Tuesday.

That still represents an improvement from a 2% drop in the first quarter, but aside from last quarter, it would be the lowest growth rate since at least Q2 2017 when Refinitiv records starts.

It’s also down from more than 3.6% growth expected for Q2 two months ago and a sharp decline versus the same quarter of last year when earnings rose 9.7%.

Europe’s STOXX 600 second-quarter revenue is seen rising 0.7%, down from 1% a week ago and 3.2% in the same quarter last year.

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