{"id":53090,"date":"2023-08-25T19:08:41","date_gmt":"2023-08-25T23:08:41","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/affirm-stock-advances-as-bnpl-company-easily-tops-revenue-expectations\/"},"modified":"2023-08-25T19:08:46","modified_gmt":"2023-08-25T23:08:46","slug":"affirm-stock-advances-as-bnpl-company-easily-tops-revenue-expectations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=53090","title":{"rendered":"Affirm stock advances as BNPL company easily tops revenue expectations"},"content":{"rendered":"
\n

Affirm Holdings Inc. shares were powering nearly 7% higher in Thursday\u2019s after-hours action after the buy-now-pay-later operator topped expectations with its latest results.<\/p>\n

The company posted a net loss of $206.0 million, or 69 cents a share, compared with $186.4 million, or 65 cents a share, in the year-earlier period. The FactSet consensus was for an 87-cent loss per share. <\/p>\n

\n

Affirm\u2019s
\n AFRM,
\n +28.82%<\/bg-quote>
\n revenue rose to $446 million from $364 million, whereas analysts were looking for $406 million. <\/p>\n

\u201cDespite significant changes in interest rates and consumer demand, we still delivered good credit results, unit economics and [gross merchandise volume] growth,\u201d Chief Financial Officer Michael Linford said in a release. \u201cWe also demonstrated that the business can continue to expand profitably even in a high interest-rate environment.\u201d<\/p>\n

The company recorded $5.5 billion in GMV, up from $4.4 billion a year before, while the FactSet consensus was for $5.3 billion. GMV represents the dollar amount of transactions flowing through Affirm\u2019s platform.<\/p>\n

\u201cExamples of impactful launches this quarter include down payment-sensitive APRs [annual percentage rates] to help consumers make smarter financial decisions, campaigns to increase adoption of repayment from bank accounts via ACH [automated clearing house], servicing tools, and as always, checkout optimization,\u201d Chief Executive Max Levchin said in the letter. \u201cSeveral projects to improve conversion shipped and are expected to add over $600 million of annualized GMV.\u201d<\/p>\n

Revenue less transaction costs, a metric that the company says measures the economic value of the transactions it processes, fell to $182.1 million from $184.2 million a year before. RLTC was 3.3% of GMV. <\/p>\n

The company disclosed that it\u2019s been adding about 75,000 active cardholders each month for its debit-card product, and it had over 300,000 active cardholders as of mid-August.<\/p>\n

For the fiscal first quarter, Affirm expects $5.30 billion to $5.50 billion in GMV, along with $430 million to $455 million in revenue. Analysts had been looking for $5.39 billion in GMV and revenue of $430 million. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Affirm Holdings Inc. shares were powering nearly 7% higher in Thursday\u2019s after-hours action after the buy-now-pay-later operator topped expectations with its latest results. The company posted a net loss of $206.0 million, or 69 cents a share, compared with $186.4 million, or 65 cents a share, in the year-earlier period. The FactSet consensus was for […]<\/p>\n","protected":false},"author":1,"featured_media":53091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-53090","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAffirm stock advances as BNPL company easily tops revenue expectations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Affirm Holdings Inc. shares were powering nearly 7% higher in Thursday\u2019s after-hours action after the buy-now-pay-later operator topped expectations with\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=53090\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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