European earnings growth estimate rises to 20.8% as energy profits surge

July 30 (Reuters) - Estimates for European blue-chip companies' second-quarter earnings have risen further, with profit growth now expected at 20.8% from a year earlier, although much of the increase is being driven by the energy sector, LSEG I/B/E/S data showed on Thursday.

The earnings recovery remains heavily dependent on energy companies, which are expected to more than double their profits. Excluding the sector, the overall growth rate for STOXX 600 companies is forecast to be 10.3%.

Revenue is forecast to rise 11.7%, ending four consecutive quarters of contraction, according to data based on results from 225 companies and market estimates for those yet to report.

Eight of the index's 10 sectors are expected to report profit growth.

Basic materials is also forecast to deliver strong gains, while technology and financials are seen posting moderate double-digit growth.

Real estate, consumer cyclicals and healthcare are expected to be among the weakest-performing sectors this earnings season.

Investors face another busy reporting week, with 46 STOXX 600 companies scheduled to release results, including energy major BP, healthcare company Novo Nordisk and lender HSBC.

(Reporting by Rafal Nowak in Gdansk; Editing by Matt Scuffham)