A newly-released report found Internet advertising revenue climbed to a record-breaking high in the third quarter of 2013, totaling nearly $10.7 billion.
EBay’s third-quarter earnings edged past analysts’ expectations, but revenue rose just short of estimates. The company’s profit and revenue outlook for the current quarter through December was also weaker than expected.
Safeway said Thursday its third-quarter net income fell 58 percent, hurt by a software impairment charge, higher theft and lower property gains. Results beat expectations however and shares rose 6 percent in aftermarket trading.
Cisco announced it would lay off some 4,000 workers beginning in the first quarter of 2014.
Apple’s latest quarterly report confirms the iPhone maker’s growth has stalled along with its pace of innovation.
Google’s financial performance faltered in the second quarter as a downturn in the Internet search leader’s ad prices deepened.
The increased tax rate is expected to generate about $1.5 million in additional revenue a year for the city.
The state’s independent budget analyst says California will take in $3.2 billion more than Gov. Jerry Brown estimated, providing Democratic lawmakers the opportunity to increase spending.
Cisco says its net income rose 14 percent in the latest quarter, and says it is seeing “some good signs” in the U.S. and other markets.
Gov. Jerry Brown and state lawmakers are locked in a disagreement over how to hand out $900 million by the voter-approved closure of a tax loophole.