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Europe Is the Only Region Where Earnings Estimates Are Rising

  • Banks showing strongest pace of profit upgrades: Bernstein
  • Estimates for Europe corporate earnings are highest on record

Europe is now the only region where analysts are still increasing their estimates for corporate profits, with banks leading the pace of upgrades, according to Sanford C. Bernstein strategists.

Brokerages predict record profits in the region this year, according to data compiled by Bloomberg, even as concern mounts that a recession is looming because of hawkish central banks, soaring prices and the war in Ukraine.