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.
Facebook says its net income and revenue grew in the first quarter of the year, helped by an increase in mobile ad revenue.
Visa Inc. says its net income slipped nearly 2 percent in the first three months of this year from a year earlier, when the company benefited from an adjustment to its income tax provision.
Chevron said its net income fell 5 percent in the first quarter as oil prices slipped.
Lower than expected revenue growth disappointed investor and shares fell sharply Thursday.
EBay grew its earnings and revenue in the first quarter thanks to growth in its PayPal business and its e-commerce sites. But revenue fell shy of Wall Street’s expectations, causing investors to send the company’s stock lower in after-hours trading.