AFRM - Affirm Holdings revenue increased 51% in Q3: find out more

2024-05-08 07:16:09 ET

Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter.

Affirm stock rallies on impressive outlook

The stock is being rewarded also because issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter.

Analysts, in comparison, were at $576 million. Max Levchin – the chief executive of Affirm Holdings said in a letter to shareholders today:

Our consumers love Affirm. We cannot wait to deliver a few more amazing products and services in the coming weeks and months for them – and for the merchants where they shop.

The Nasdaq-listed firm forecasts up to $6.95 billion in gross merchandise volume (GMV) in Q4. Affirm stock is now up nearly 20% versus its year-to-date low.

Notable figures in Affirm Q3 earnings release

Lost $133.93 million versus the year-ago $205.67 million

Per-share earnings also narrowed from to

Adjusted loss printed at 43 cents as per the earnings report

Revenue climbed 51% year-over-year to $576 million

Consensus was 69 cents a share loss on $550 million in revenue

This is a developing story. Check back in a few minutes for more updates!

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