Ugly earnings data in Europe as majority of companies miss estimates

Ugly earnings data in Europe as majority of companies miss estimates. European companies have been reporting their Q2 earnings over the past couple weeks and the results are not pretty. 51% of reporting firms missed their EPS estimates while only 48% beat estimates. This is a significant contrast to America where companies had a relatively strong second quarter. In the United States, 73% of reporting firms beat EPS estimates while only 26% missed estimates. This shows that Europe is still struggling to find growth and that the American economy continues to improve at a faster rate than Europe's. European investors hoping for good news will have to keep waiting until the next quarter. (VIEW LINK)

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