Finance

Why a strong start to earnings season isn’t halting the slide for global stocks

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The Wall Street sign is seen outside The New York Stock Exchange (NYSE) in New York, February 16, 2021.

Brendan McDermid | Reuters

LONDON — Corporate earnings season is off to a flying start, but the positive surprises have so far failed to generate upward momentum for global stock markets.

As of Friday morning, 13% of companies in Europe and 20% in the U.S. had reported first-quarter earnings, with the majority exceeding consensus expectations.

Barclays analysts on Friday highlighted that earnings per share (EPS) growth has been particularly high thus far, at 107% year-on-year in Europe and 63% in the U.S.

EPS beats are above average for a reporting season at 74% in Europe and 83% in the…



Source cnbc.com

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