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Factset latest data on STOXX600 earnings for 2Q 2020 is dire:
Click to enlarge
In basic terms, earnings figures managed to beat estimates only because analysts’ expectations of earnings drop off were even more gloomy than the already dismal outrun.
Year-on-year revenues growth was also bad:
Notably, sharper declines in earnings compared to revenues implies little gains in terms of any productivity or efficiencies during the pandemic response.
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