September 10, 2019 / 3:22 PM / 5 months ago

European third-quarter profit outlook improves slightly, still in recession

MILAN (Reuters) - Earnings expectations for European companies for the third quarter have improved slightly, although the region is still expected to be in a corporate recession, according to data on Tuesday.

Companies listed on the pan-European STOXX 600 index are expected to report a 1.8% decline in earnings for the July-September quarter, compared with a 1.9% drop expected a week ago, according to the latest data from I/B/E/S Refinitiv.

That would still mark the third straight quarter of deterioration.

Second-quarter earnings are seen declining 2.6% and revenue will rise 3.2%, both unchanged from last week.

Reporting by Danilo Masoni, Editing by Rosalba O'Brien

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