In its most recent earnings call, Microsoft said the currency’s surge is complicating both earnings and revenue.
“The US dollar strengthened throughout the quarter, creating an additional headwind beyond what we shared mid-quarter,” CFO Amy Hood said on July 26.
The strong dollar will remain a drag as the company projects full-year margins to be roughly flat, she added.
General Electric echoed similar concerns on its earnings call. CFO Carolina Dybeck Happe estimated the dollar will account for a three-point negative hit to the bottom line. And if current interest rates persist, she expects a similar impact for the full year.
