????倘若CEO們要在這個(gè)收益發(fā)布季節(jié)合唱一曲的話，他們或許會(huì)不約而同地提及強(qiáng)大的美元。它是公司利潤(rùn)面臨的最大威脅之一。

????對(duì)于美國(guó)工商界而言，美元走強(qiáng)并不總是壞消息。但隨著公司收益的增長(zhǎng)在第二季度減速，從麥當(dāng)勞（McDonald's）到高露潔（Colgate-Palmolive），各大公司的CEO紛紛表示，美元近期的升值對(duì)企業(yè)不利。美元升值不僅讓產(chǎn)品變得更加昂貴，而且意味著當(dāng)海外銷售額轉(zhuǎn)換為更強(qiáng)勢(shì)的美元時(shí)，面臨價(jià)值縮水的問題。

????誠(chéng)然，大多數(shù)公司通常會(huì)采取措施，應(yīng)對(duì)匯率波動(dòng)。比如，它們可以提高產(chǎn)品價(jià)格。但在截止到6月份的3個(gè)月中，美元升值的步伐之快著實(shí)讓大多數(shù)高管感到意外。第二季度，美元對(duì)歐元升值了5%。隨著正在上演的歐洲債務(wù)危機(jī)顯露出惡化跡象，投資者為了給資金尋找更安全的存放之地，因而紛紛轉(zhuǎn)向美元。截至周三上午，在紐約匯市，1歐元兌1.2311美元。

????特百惠公司（Tupperware）是最近受美元走強(qiáng)打擊的公司之一。這家位于佛羅里達(dá)州奧蘭多市的家居用品公司周二發(fā)布報(bào)告稱，公司凈收入下跌了81%。雖然這一結(jié)果超出了華爾街的預(yù)期，但該公司表示，包括美元走強(qiáng)在內(nèi)的其他因素將進(jìn)一步抑制未來的業(yè)績(jī)。營(yíng)業(yè)收入則下跌了5%，從6.999億美元跌至6.389億美元。倘若不受匯率影響的話，營(yíng)收其實(shí)可以增長(zhǎng)5%。

????高露潔公司在周三面對(duì)分析師進(jìn)行的電話會(huì)議上報(bào)告稱，利潤(rùn)小幅增長(zhǎng)了0.8％。公司CEO伊恩·庫克表示，匯率因素使得這家世界最大的牙膏生產(chǎn)商的利潤(rùn)減少了9%。他說，如果匯率保持現(xiàn)有水平，高露潔公司今年的利潤(rùn)可能下降6%到7%。許多分析師認(rèn)為，只要?dú)W債危機(jī)引發(fā)的市場(chǎng)不安情緒得以延續(xù)，美元走強(qiáng)的趨勢(shì)預(yù)期就不會(huì)改變——至少在短期內(nèi)不會(huì)改變。正在密切關(guān)注匯市變化的公司警告投資者稱，未來的匯率波動(dòng)或許很難管理。

????周四，亞馬遜公司（Amazon）報(bào)告稱第二季度的銷售額出現(xiàn)不錯(cuò)的漲幅，但依然沒有達(dá)到華爾街的預(yù)期。利潤(rùn)同比下跌96%，從1年前的1.91億美元下跌至700萬美元。正如《財(cái)富》雜志（Fortune）指出的，利潤(rùn)縮水的原因在于，亞馬遜公司為了實(shí)現(xiàn)長(zhǎng)期的收益，投下巨資拓展多種業(yè)務(wù)。

????盡管這當(dāng)然是一個(gè)因素，但包括匯率波動(dòng)在內(nèi)的其他外部變量也有可能影響亞馬遜公司未來的收益。“我們的業(yè)績(jī)具有固有的不可預(yù)測(cè)性，除了全球經(jīng)濟(jì)的消費(fèi)支出之外，或許還受到了許多因素的影響，比如具有高度不確定性的匯率波動(dòng)，”亞馬遜首席財(cái)務(wù)官湯姆·斯庫塔克在電話會(huì)議上對(duì)分析師如是說。

????因此，美元這一世界儲(chǔ)備貨幣的價(jià)值上升至頂端的時(shí)候，它其實(shí)在危及每家公司的利潤(rùn)水平。

????譯者：任文科

????If there was a chorus to be sung this earnings season, CEOs would probably reference the mighty greenback in harmony. It's one of the biggest threats to profits.

????A stronger dollar isn't always bad news for corporate America. But as the growth of earnings decelerates in the second quarter, CEOs from McDonald's ( MCD ) to Colgate-Palmolive ( CL ) say that an appreciating dollar has been bad for business lately. Not only does it make products more expensive, but it also means sales made overseas aren't worth as much when converted into a stronger greenback.

????To be sure, most companies generally prepare for fluctuating exchange rates. They could raise prices, for instance. But the pace at which the dollar has strengthened in the three months ending in June has surprised most executives. During the second quarter, the dollar gained 5% against the euro. As Europe's ongoing debt crisis took a turn for the worse, investors looking for a safer place to park their cash turned to the U.S. dollar. As of Wednesday morning, it stands at $1.2311 per euro in New York.

????Tupperware ( TUP ) is among the latest companies hit by the stronger dollar. On Tuesday, the Orlando, Fla.-based home products line reported that net income slid 81%. That beat Wall Street expectations, but the company said the stronger dollar , among other factors, will dampen results going forward. Revenue fell 5% to $638.9 million from $699.9 million. If the impact of exchange rates weren't a factor, revenue actually would have climbed by 5%.

????In a call with analysts Wednesday, Colgate-Palmolive reported that profits edge up by 0.8%. CEO Ian Cook said foreign exchange rates cut the world's largest toothpaste maker's bottom line by 9%. If exchange rates remain the same as today, he said, profits could fall 6% to 7% for the year.Many analysts think the strengthening dollar isn't expected to go away, at least not any time soon or so long as Europe's ongoing debt crisis continues to rattle markets. Companies are watching closely, warning investors that exchange rate fluctuations could be difficult to manage going forward.

????On Thursday, Amazon.com ( AMZN ) reported a decent bump in sales for the second quarter, but missed Wall Street expectations. Profits declined 96% to $7 million, compared with $191 million a year earlier. As Fortune pointed out, the softer profits come as the company invests heavily to expand multiple businesses to achieve long-term gains.

????While that's certainly a factor, fluctuations in exchange rates, among other variables outside the walls of Amazon, could also impact earnings going forward. "Our results are inherently unpredictable and maybe materially affected by many factors including a high level of uncertainties surrounding exchange rate fluctuation as well as the global economy consumer spending," chief financial officer Tom Szkutak told analysts during a conference call.

????So while we watch the world's reserve currency rise to the top, it's threatening most everyone's bottom line.