Europe’s first quarter earnings growth expectations surge further

Europe’s first quarter earnings growth expectations surge further

Earnings at Europe’s biggest listed companies in the first quarter of 2021 are expected to surge 83.1% from a year earlier, according to Refinitiv I/B/E/S data.

The data, published on Tuesday with the first quarter earnings season in full swing, would mark the best quarter for European stocks since I/B/E/S records began nine years ago and represents a jump compared to last week’s forecast of a 71.3% jump and 61.2% a week before that.

The forecasts, which track companies listed on the pan-European STOXX 600 equity index, point to revenues rising 2.2% in the first quarter, compared to 2.5% a week ago.

Refinitiv said that its data showed that out of 157 companies in the STOXX 600 having reported earnings for the first quarter, 73.9% reported results exceeding analyst estimates, well above the 51% beat achieved in a typical quarter.

levmir-uscom