NEWS: Third quarter profit forecast for European companies

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According to the latest estimates, the recession in European enterprises is expected to intensify as the industry is facing uncertainties such as the brexit of the UK, the trade dispute between the US and China, and the decline in German manufacturing.
The Stoxx 600 regional index is currently expected to report a 3.7% drop in third quarter earnings, according to Luft I / B / E / s data, more than the 3% drop expected a week ago.
The profit in the same period last year was 14.4% higher than that in the same period last year. If the decline is in line with the expectation, it will be the worst performance since the profit in the third quarter of 2016 dropped 5%.
The second quarter profit of regional enterprises fell by 2.1%, which was the second consecutive quarter of contraction and entered the profit recession period.
The forecast for revenue improved slightly and is expected to be flat, up 5.9% in the same period last year and 3.3% in the second quarter.
The forecast for the fourth quarter is also slightly revised down. At present, EPS is expected to grow by 9.1%, less than last week's forecast of 9.6%; revenue is expected to grow by 3.2%, less than last week's forecast of 3.4%.


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