# Asian Companies Seeing Big Earnings Upgrade

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Last modified: 2021-06-08

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By Paul Ebeling · 2021-06-08
Tags: Shayne Heffernan on Investments, Stocks, earnings, Paul Ebeling, companies, asian, Asia, BlackBerry (NYSE:BB)
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#Asian #companies #earnings

Asian firms have received the biggest upgrade to their forward 12-month earnings estimates in 6 months, bolstered by a surge in regional manufacturing and exports as a recovery in global demand continues.

Analysts lifted their forecasts for Asian companies' forward 12-month earnings by 3.9% in May, the highest since November last yr, according to the data.

*"Earnings recovery remains a dominant theme despite risks of rolling COVID waves ahead aided by strengthening of vaccine rollouts in more developed parts of Asia,*" Nomura said in a report at the end of last month.

The recovery is being driven by sectors where structural themes underpinned earnings such as semiconductors, electric vehicles, internet/e-commerce and gaming, Nomura said.

Asian companies posted higher-than-expected profits in Q-1, prompting analysts to revise their forecasts higher for the yr.

Goldman Sachs said regional firms' Q-1 earnings grew 70% last yr, while their median earnings surprise was the highest in 10 yrs at 12%.

Taiwanese companies saw the biggest earnings upgrades of 5.9% in the past month, while Indian firms' were lifted by 3.5% after a cut in April.

*"India might see selected pockets of strength despite concerns around surging COVID-19 cases as manufacturing activity remained stable, while sectors such as information technology reported strong earnings results," *said Goldman Sachs in a report last month.

SKorea, Vietnam, Singapore, and Australia, all saw earnings upgrades of more than 2% in the last month, while the Philippines and China received small downgrades.

Have a healthy day, Keep the Faith!

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