LONDON (Reuters) - Europe Inc is seen extending its earnings drought into 2020 with the latest Refinitiv data pointing to a fifth straight quarter of profit decline as companies continue to warn on the impact from the fast-spreading coronavirus.
Companies listed on the pan-European STOXX 600 index are now expected to report a profit decline of 1.4% in the Jan-March quarter, according to I/B/E/S Refinitiv. That’s a sharp reversal from a 5% jump expected in early February.
Fourth quarter earnings are now seen sliding 2.6%, a further deterioration from the 1.2% expected last week.
Reporting by Thyagaraju Adinarayan, edited by Julien Ponthus