A day after the purchase now, pay later company released fiscal fourth-quarter results that exceeded expectations and provided upbeat forecast for the first quarter, Affirm shares increased by as much as 30% in afternoon trade on Friday.
Here is how the business fared:
Refinitiv reports that the loss per share was 69 cents as opposed to the analysts’ predicted 85 cents.
Refinitiv reports that revenue was $446 million as opposed to the analysts’ prediction of $406 million.
In addition, Affirm provided positive outlook for the fiscal first quarter, forecasting revenue between $430 million and $455 million, exceeding analyst forecasts of $430 million.
According to StreetAccount, the company recorded gross merchandise volume, or GMV, of $5.5 billion, up 25% from the previous year and more than the $5.3 billion experts had predicted. The total value of transactions over a specific time period is measured using the carefully followed industry indicator known as GMV.
In comparison to a net loss of $186.4 million, or 65 cents per share, in the same period last year, Affirm reported a net loss of $206 million, or 69 cents per share.
Purchase now, pay later During the epidemic, online purchasing increased along with the popularity of programmes like Affirm. However, Affirm has had to deal with a deteriorating economic climate as well as sharply rising interest rates.
Source (CNBC)
