February 26, 2020 / 6:36 AM / a month ago

European companies seen reporting bigger drop in quarterly profits

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 25, 2020. REUTERS/Staff

LONDON (Reuters) - 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.

Reporting by Julien Ponthus; Editing by Kim Coghill

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