Affirm shares jumped Wednesday in after-hours trading following a beat on the top and bottom lines.
The company reported a per share loss of 14 cents, while analysts were expecting a loss of 51 cents per share.shares jumped as much as 16% in after hours trading on Wednesday, after the provider of buy now, pay later loans reported better-than-expected fiscalAffirm reported gross merchandise volume, or GMV, of $7.2 billion, up 31% from a year earlier. GMV is a key industry metric that helps gauge the total value of transactions over the reporting window.
Affirm CEO Max Levchin said in a note to shareholders that the company set a new goal of hitting operating profitability on a GAAP basis by the fiscal fourth quarter of 2025.For the current quarter, Affirm sees revenue in the range of $640 million and $670 million. Analysts polled by LSEG called for revenue of $625 million.
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