US earnings to give pointer on bleak economic prospects

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Nigeria News News

Earnings forecasts have declined and companies are withdrawing guidance as coronavirus pandemic hits operations

Apple was among US companies that warned of the impact of Covid-19 on earnings. Picture: SUPPLIED

With the profit picture worsening, Congress approved a $2- trillion funding package and stocks began to rebound from weeks of selling that ended the longest US bull market. US cases have risen above 100,000, and the US now tops China and Italy as the country with the most coronavirus cases. Earnings forecasts have fallen, with analysts now projecting a year-on-year decline of 2.9% for the first quarter, 7.1% in the second quarter and 0.5% in full-year 2020, according to IBES data from Refinitiv. They still estimate slight growth in the third and fourth quarters, based on Refinitiv data.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Someone should have spent 30 seconds longer on this headline...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines