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Affirm jumps after beating revenue expectations

Investing.com -- Affirm Holdings Inc (NASDAQ:AFRM) shares jumped after the buy now, pay later fintech beat expectations on revenue and raised its guidance.

For its fiscal fourth quarter ending in June, Affirm reported a loss of 69 cents a share on revenue of $445.8 million. Analysts expected a loss of 87 cents a share on revenue of $406.2M.

Revenue was up 22% from the same time last year.

Shares were up 9.3% and are up 42% so far this year.

The company sees fiscal first quarter revenue of $430M to $455M, also higher than expectations. Affirm said it was adjusted operating income positive as the fiscal year came to a close, and on an annual basis, “we intend to remain consistently positive on this metric going forward.”

CEO Max Levchin said: “We are very proud of the results this quarter and fiscal year, yet our focus remains on the company’s longterm goals.”

 

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.