Currency swing's negative impact got less severe on revenues of North American companies in Q3 2021 compared to the previous quarter and was as low as it had been since the first quarter of 2018, data released on Wednesday reads.
A collective forex hit, with companies in the US, Canada and Mexico included, made up $929 million in the third quarter of the last year, up from a negative impact of $2.32 billion in the second quarter of 2021.
According to Kyriba, a treasury and financial management company, the third quarter negative effect was the lowest since the first quarter of 2018.
The total negative impact as reported by North American and European companies reached $2.13 billion in the third quarter of 2021, which is also below the negative impact level in the second quarter of 2021.
S&P 500 index companies have been reporting their fourth-quarter 2021 results for the past few weeks.
