Data Source: Thomson Reuters
Unlike US earnings, which have improved as earnings season moves forward, EU earnings have deteriorated. In the past 2 weeks, Q1 estimates for the STOXX 600 have declined from -3.4% to -4.2% (down from -1.6% 4 weeks ago).
The earnings beat rate is at 58.2% which is down from 71.4% 2 weeks ago (but above the average of 50%). The revenue beat rate has dropped from 80% down to 58.5% in the past two weeks (but still above the average of 55%). This is less impressive because the EURO has been weak (~10% lower than it was yoy – Q1 2018).
