A group of S&P 500 companies reported a downtick in their international businesses in the first quarter of 2024, according to an S&P Global Market Intelligence analysis of the latest available data.

Reported international revenues among S&P 500 companies were $303.17 billion during the quarter, down about 11.3% from $341.75 billion a year earlier. Within the S&P 500, 119 companies reported international revenue exposure for the period, including Aon PLC, BlackRock Inc., Netflix Inc. and Tesla Inc.

Caterpillar Inc., for example, reported roughly flat or declining first-quarter net revenues in most of its regions outside the US according to a company filing. North America sales increased 7% primarily due to higher prices and sales volume, while sales increased 2% in Latin America mainly due to higher sales volume.

Alphabet Inc. reported a higher percentage rise in revenues from the US for the three months ended March 31 compared to other regions. Alphabet reported an 18% rise in revenues in Q1'24 at $38.74 billion in the US, according to the company's earnings release. Currency exchange impacts dinged overseas revenues by a net of just over $300 million during the quarter.

Johnson & Johnson posted a 7.8% increase in sales in the US region, whereas it saw a decline in Europe, Asia-Pacific and Africa regions for the first fiscal quarter ended March 31.

The latest quarterly international revenue of $303.17 billion accounts for about 13.7% of the total revenue for the S&P 500 companies, according to Market Intelligence data.