Affirm Holdings Inc shares surged 37% after reporting a 54% jump in Q3 revenue and forecast operating income profitability by the end of the next year.
AFRM up +36.97%, CACC down -1.16%
The company’s Q3 revenue rose 54% from a year ago to $354.8 million and is higher than estimates of $344.3 million. The company also reported a loss of 19 cents per share, narrower than the year-earlier loss of $1.23 per share.
Michael Linford, Chief Financial Officer of Affirm stated that the strong performance shows the ability of the company to drive growth with attractive unit economics, despite volatile market situations.
The “buy now, pay later” company raised its revenue forecast for the full year, expecting $1.33 billion to $1.34 billion in revenue, higher than its prior estimates of $1.31 billion.
The company stated it expects a gross merchandise value of $15 billion to $15.14 billion in fiscal 2022, higher than prior estimates of nearly $14.8 billion.