NU Online News Service, Nov. 7, 2003, 5:37 p.m. EST – AXA S.A., Paris, says the continuing strength of the euro relative to the U.S. dollar contributed to a drop in revenue for the first three quarters.
The company is reporting the equivalent of $63 billion in revenue for the period, up from $58 billion in revenue for the first three quarters of 2002.
Back home, the company is reporting 55 billion euros in revenue for the period, down from 57 million euros in revenue for the comparable period in 2002.
The conversions here use an exchange rate of $1=0.86252 euros for the 2003 results, and an exchange rate of $1=0.98102 euros for the 2002 results. The exchange rates come from OANDA Corp., New York.