Original title: Profit Outlook Drags Australia Stocks After Rocky Results Season
Earnings expectations for Australia’s biggest companies are slipping after a bleak reporting season that jolted shares. The drop in forward consensus earnings estimates for the benchmark S&P/ASX 200 Index accelerated during August’s results period, and is now down 2.5% since the start of the year, according to data compiled by Bloomberg. That makes it an outlier in the Asia Pacific region, where overall profit projections are rising.