positive Stocks jumped more than 10% in extended trading on Thursday. Buy Now Provider, pays later loans and reported second quarter results that exceeded expectations.
Below is how the company did it compared to estimates of analyst consensus from LSEG.
Earnings per share: Adjusted 23 cents. This is not comparable to the expected 15 cent loss. Revenue: $866 million vs. $807 million forecast
According to StreetAccount, the total product volume (GMV) is reported to be $10.1 billion, with an average estimate of $9.64 billion, which is the first time above $10 billion. GMV is an important metric that helps to evaluate the total value of transactions, up 35% from the previous year.
Quarterly revenues rose 47% from $591 million the previous year. When revenues grow faster than GMV, they usually show strong unit economics.
Low-revenue transaction costs (RLTC) rose 73% to $419 million. The RLTC margin of 4.1% exceeded the long-term range of 3%-4%.
According to LSEG, the company expects revenues of $770 million, from $755 million to $785 million for the quarter, or $772 million, or $770 million.
Affirm said it remains committed to achieving profitability on a GAAP basis, ending the fourth quarter of 2025.
The company has 21 million active consumers, up 23% year-on-year, and the company’s big bet to promote overall use, AFFIRM Cards has 1.7 million active users. This is an increase of more than 136% from the previous year. quarter. The card volume has more than doubled.
New relationship with the company apple Additionally, other partnerships Amazon and Shopify Increases results. In June, AFFIRM and Apple announced plans for Apple Pay users on their iPhones and iPads so that they can apply for loans directly through assertions.
Affirm’s quarterly revenue calls begin at 5pm.
– Robert Ham of CNBC contributed to this report.
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