European majors' strong earnings growth expected to have continued in Q3
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Major European companies expect higher third-quarter earnings, according to LSEG data from Thursday.
- ✓While growth should slightly temper from the previous quarter, profits remain strong.
- ✓A Deutsche Bank report said, "Demand is strong enough to allow companies to pass on higher prices." Meanwhile, energy majors saw massive gains, unlike real estate.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Oct 9 (Reuters) - Major European companies are expected to report substantially higher third-quarter earnings, the latest LSEG I/B/E/S data showed on Thursday, although the year-on-year growth should slightly temper from the previous quarter.
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That is an improvement compared to last week's forecast for 19.4% growth and would mark the second-best quarterly profit growth in the past 14 quarters. Excluding the energy sector, the expected growth rate for STOXX 600 companies is a more modest 9.7%.
European blue-chip companies' revenues are seen increasing by 10.6% from a year ago, also above the average of the past couple of years.
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Reuters
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