European companies are defying analysts' expectations, according to new data.
Fourth quarter revenues of nearly 61 per cent of companies in the Stoxx 600 that have reported to date have exceeded analysts' estimates, according to research from Thomson Reuters. In a typical quarter 53 per cent beat analyst revenue estimates.
The Stoxx 600 is an index which tracks publicly-traded companies across 18 EU countries. Up until 7 March, 268 companies in the Stoxx 600 reported revenues for the final quarter of last year.
Revenues for the quarter are now forecast to rise 3.9 per cent from the same period in 2015. Excluding the energy sector, earnings are expected to increase 2.2 per cent.
Earnings for the period are predicted to jump 13 per cent year-on-year. Even excluding the energy sector, they will still be up 12 per cent.
"The outlook for the Stoxx 600 is positive," said Thomson Reuters' senior research analyst David Aurelio.