Expired R&D credit affects tech firms' Q1 earnings

The expiration of a research-and-development tax credit used by tech companies is affecting first-quarter earnings, Rolfe Winkler writes. Google saw its tax rate increase to 18%, compared with 16% for 2013, which led its earnings per share to drop by 17 cents. Citrix Systems estimates that its tax rate will rise to 19% this year from 13% in 2013. There are proposals in Congress that would renew the credit, Winkler writes.

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