European First-Quarter Earnings Show Strong Recovery, But…

It seems as if Europe has finally turned the corner if corporate earnings are anything to go by. Halfway through the European first-quarter earnings season, 63% of companies have reported better-than-expected numbers, and 29% have missed giving net beats of 34%, the highest level in seven years according to analysis from UBS. The seven-year average is 13%. According to the Swiss bank’s analysts, this strong performance is yet more evidence that the European profit cycle has turned, and after nearly ten years of sluggish performance, European corporate’s are finally starting to pick up steam again. European First-Quarter Earnings Show Strong…