European Q1 Earnings Decline Due to Tariff Turmoil
(Reuters) -The outlook for European corporate health has deteriorated, the latest forecasts showed on Tuesday, heightening fears that a global trade war ignited by U.S. President Donald Trump's tariffs will hurt companies' earnings.
European companies are expected to report a drop of 2.2% in first-quarter earnings, according to LSEG I/B/E/S data, worse than the 1.5% drop analysts expected a week ago.
Consensus for revenue, however, improved with forecasts of a 4.4% increase, compared with a 4.2% increase expected last week.
This compares with a 3.3% drop in earnings and a 4.6% drop in revenues a year ago, the data showed.
(Reporting by Alessandro Parodi, editing by Jo Mason and Joe Bavier)
