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Affirm shares rocket 29% after better-than-expected results and strong guidance



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Affirm Holdings Inc. website home screen on a laptop computer in an arranged photograph taken in Little Falls, New Jersey.Gabby Jones | Bloomberg | Getty ImagesAffirm shares popped as much as 29% in afternoon trading on Friday, a day after the buy now, pay later firm reported fiscal fourth-quarter results that topped expectations and gave optimistic guidance for the first quarter.Here’s how the company did:Loss per share: 69 cents vs. 85 cents as expected by analysts, according to Refinitiv.Revenue: $446 million vs. $406 million as expected by analysts, according to Refinitiv.Affirm also gave strong guidance for the fiscal first quarter, projecting $430 million to $455 million in revenue, versus analyst expectations of $430 million.The company reported gross merchandise volume, or GMV, of $5.5 billion, an increase of 25% year over year, and higher than the $5.3 billion expected by analysts, according to StreetAccount. GMV is a closely watched industry metric used to measure the total value of transactions over a certain period.Affirm posted a net loss of $206 million, or 69 cents a share, compared to a net loss of $186.4 million, or 65 cents a share, in the year-ago quarter.Buy now, pay later services such as Affirm soared during the pandemic alongside a boost in online shopping. But Affirm has been contending with a worsening economic environment, as well as …

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