September 3, 2019 / 4:57 PM / 3 months ago

European third quarter profit outlook improves slightly but still in recession: Refinitv

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 20, 2019. REUTERS/Staff

LONDON (Reuters) - Earnings and revenue expectations for European companies for the third quarter have improved very 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 1.9% decline in earnings for the July-September quarter, compared with a 2% 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.

Revenue in the quarter is now expected to rise 0.1% year-on-year, rather than decline 0.2% as expected last week.

Second-quarter earnings will decline 2.6%, further than previously forecast, while revenue will rise 3.2%, up slightly from last week.

(Graphic: U.S. versus Europe earnings link: here)

Reporting by Josephine Mason; editing by Thyagaraju Adinarayan

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