Affirm beats on top and bottom lines
Affirm, the provider of buy now, pay later loans reported better-than-expected fiscal first-quarter results.
Here's how the company did, compared to analysts' consensus estimates from LSEG.
Loss per share: 31 cents adjusted vs. a loss of 35 cents expected
Revenue: $698 million vs. $664 million expected
Affirm reported gross merchandise volume (GMV) of $7.6 billion, topping the average estimate of $7.28 billion, according to StreetAccount. GMV, a key metric that helps gauge the total value of transactions, increased by 35% from a year earlier.
Revenue in the fiscal first quarter rose 41% from $496.5 million a year earlier.
Revenue less transaction costs (RLTC) came in at $285 million, ahead of earlier guidance of $265 million to $280 million.
Affirm said it expects to achieve profitability on a GAAP basis in its fiscal fourth quarter of 2025. Last quarter, CEO Max Levchin said in a note to shareholders that the company had set a new goal of hitting operating profitability on a GAAP basis by the end of its fiscal year.
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