European Earnings Surprises Lag in Second Quarter Scorecard
- 56% of European firms have beaten estimates so far in 2Q
- Earnings growth largely driven by energy and materials sector
What Investors Are Learning From 2Q Earnings
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Almost half way into the second-quarter earnings season, analysts’ optimism over the rebound in European stocks is being dented.
Of the 44 percent of companies in the Stoxx Europe 600 Index that have so far reported, 56 percent beat earnings-per-share estimates, down from 66 percent in the first quarter, strategists at JPMorgan Chase & Co. including Emmanuel Cau and Mislav Matejka said in a research note.