European companies seen reporting bigger drop in quarterly profits

LONDON- European companies are expected to report a 1.2% fall in profits year-on-year in the fourth quarter, according to I/B/E/S Refinitiv data, a bigger drop than previously expected which would keep them stuck in a year-long earnings recession.

Companies listed on the pan-European STOXX 600 index had been expected last week to report a 0.2% decrease, according to I/B/E/S Refinitiv.

The decline would mark the fourth straight quarter of falling profits.

(Content and photos syndicated via Reuters)