Large U.S. multinationals are set to benefit from the dollar’s recent decline, with the Dollar Index down 10% for the year. The weak dollar will help companies with foreign revenue, making it cheaper to convert profits and boosting competitiveness for exporters.

The dollar’s fall is expected to positively impact second-quarter earnings, with every 10% drop translating into a 2% profit surprise for S&P 500 companies. Analysts forecast a 5.8% year-over-year earnings growth for the second quarter, compared to 13.7% in the first quarter.

S&P 500 companies generate 41% of their revenue from outside the U.S., particularly impacting those with exposure to Asia-Pacific regions. The information technology sector leads with 55% international revenue exposure, followed by materials and communication services. Some analysts caution against expecting a significant stock price boost from the weaker dollar-driven earnings beats.

Read more at Yahoo Finance: Analysis-Battered dollar a boon for U.S. multinational companies