Expectations for Europe’s Q4 earnings jump

LONDON (Reuters) – Europe Inc profits are expected to have risen 67.4% in the fourth quarter of 2021, data from Refinitiv I/B/E/S showed on Tuesday, as higher oil and gas prices boost the energy sector.

The estimate, based on firms listed on the STOXX 600 equity benchmark index, constitutes a seizable improvement from last week’s 55.8% growth forecast. More than half of STOXX companies have already reported results so far in the season.

Energy sector earnings are expected to have risen nearly 400%, making it the best performer for profit growth in the quarter.

Revenues for the STOXX 600 are expected to have risen 21.4% year-on-year, just slightly up from last week’s forecast of a 20.6% growth, according to Refinitiv I/B/E/S.

(Reporting by Julien Ponthus; editing by Danilo Masoni)