Affirm Stock Sinks Despite Better-Than-Expected Q3 Results

Benzinga
09 May

Affirm Holdings, Inc. (NASDAQ:AFRM) released its third-quarter results after Thursday's closing bell. Here's a look at the key figures in the report. 

The Details: Affirm reported quarterly losses of one cent per share, which beat the Street estimate of losses of three cents. Quarterly revenue of $783.13 million beat the consensus estimate of $783.03 million and is up from revenue of $576.16 million from the prior year’s quarter.

Read Next: Thursday’s Top 5 Trending Stocks: What’s Going On With D-Wave, Novavax, Carvana?

For the third quarter, Affirm reported:

  • Gross Merchandise Volume (GMV) grew 36% to $8.6 billion.
  • Direct-to-Consumer GMV (D2C GMV) grew 50% to $2.4 billion and Affirm Card GMV within this grew 115%
    to $807 million.
  • Active consumers, excluding the discontinued Returnly business, increased 23% to 21.9 million.
  • Active merchant count increased 23% to 358,000 at the end of the quarter.

“Demand for Affirm remains excellent: year-over-year GMV growth accelerated for the third consecutive quarter, including a strong March, which continued into April. Credit outcomes are in line with our predictions, and as always, we are watching attentively for any indicators of macroeconomic stress, and fine-tuning the settings of our models continuously, CEO Max Levchin wrote in a letter to shareholders.

AFRM Price Action: According to data from Benzinga Pro, Affirm stock was down 7.96% at $49.94 after-hours Thursday.  

Read Next: 

  • Disney’s New Abu Dhabi Theme Park Will Be ‘Authentically Disney And Distinctly Emirati,’ CEO Bob Iger Says 

Photo: Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10