"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
U.S. aviation officials believe a bird strike may have led to the deadly crash of an Ethiopian Airlines Boeing 737 Max in March, according to a person familiar with the...Aerospace & Defenseread more
Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of...Real Estateread more
The move, which was expected, has set up an early legal test of the president's strategy of fighting off congressional oversight by rejecting the legitimacy of subpoenas he...Politicsread more
Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.Autosread more
The Fed should take its cues from falling bond yields and lower short-term interest rates, says conservative economist Art Laffer.Economyread more
Leuthold Group's Jim Paulsen sees a silver lining as the U.S.-China trade war rattles the market.Trading Nationread more
The FDA struck the wrong balance on its oversight of the e-cigarette industry, former commissioner Scott Gottlieb said Tuesday at CNBC's Healthy Returns conference.Health and Scienceread more
Coca-Cola is partnering with Netflix to bring back New Coke to promote the third season of "Stranger Things."Food & Beverageread more
For every 5% drop in Greater China sales, Apple's earnings per share should fall about 15 cents, Credit Suisse tells clients.Investingread more
As tariff worries hit Apple, the stock has fallen into a bear market. But Joule Financial's Quint Tatro believes the pullback represents a buying opportunity, while...Trading Nationread more
Square tumbled more than six percent in after-hours trading on Wednesday after issuing an earnings forecast that trailed analysts' estimates.
First-quarter earnings matched expectations, while revenue came in ahead of estimates. But investors appear to be focused on what's coming for Square.
Here are the most important numbers:
Square gave second-quarter revenue guidance in the range of $355 million to $360 million, above the $334 million street estimate. But earnings will be between 9 cents and 11 cents per share, below analyst estimates of 12 cents.
The payments company said it will continue to reinvest in its business, focusing on revenue growth over profit expansion.
"Given the significant market opportunity ahead of us, we will continue to reinvest in our business to drive future growth," it said in a statement.
Gross payment volume grew 31 percent to $17.8 billion for the quarter. That's consistent with the growth rate seen in the fourth quarter.
Square continued to see momentum among the larger seller segment, or those who sell more than $125,000 through Square. Larger sellers accounted for 47 percent of total users, up from 42 percent last year. Revenue from larger sellers also jumped 47 percent from the previous year.
The company also disclosed that it generated $200,000 from bitcoin. Square launched a new bitcoin transaction service through its Cash App in January.
Square shares fell 6.4 percent to $45.55 after the report. As of Wednesday's close, the stock was up 159 percent over the past 12 months.