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European companies' fourth-quarter earnings estimates slashed again - Refinitiv data

Reuters

LONDON (Reuters) - European companies listed on the STOXX 600 <.STOXX> index are expected to report a 4.8-percent rise in earnings per share (EPS) in the fourth quarter, sharply lower than forecasts last week, according to I/B/E/S Refinitiv.

The new estimate is down from the 6 percent growth predicted last week and a third of the levels forecast in November. It compares with an increase of 14.4 percent in the third quarter 2018 and 16.6 percent in the fourth quarter of 2017.

The revision lower comes after seven companies in the index have reported results so far this earnings season, with 42.9 percent exceeding analyst estimates. In a typical quarter, half of those reporting beat estimates, Refinitiv said in a note.

(Reporting by Josephine Mason; Editing by Catherine Evans)