Great day for tech giants, but currency headwinds persist

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Pisani's market open: Seattle's finest

It's a great day for Seattle, as that city's biggest stars all are opening for trade up big on good earnings reports: Amazon.com, Starbucks, Microsoft.

Still, you can't help but notice the continuing impact of the strong dollar on revenues. Here's Amazon and Google's revenues, then reported in constant dollars:

Amazon

  • Revenues: up 15 percent
  • Constant currency: up 22 percent

Google

  • Revenues: up 12 percent
  • Constant currency: up 17 percent

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These are huge differences, 7 percent in the case with Amazon. With Amazon, you're dealing with $22 billion in sales for the quarter. Google reported revenue of $14 billion.

Starbucks, which reported an amazing 18-percent increase in revenues, noted that its EMEA (Europe, Middle East, and Africa) segment reported net revenues down 10 percent, largely due to "unfavorable foreign currency translation."