Affirm (AFRM) Surpasses Earnings Expectations, Stock Takes Unexpected Dip

  • Affirm Holdings (AFRM) reports a smaller-than-expected loss in the March quarter with revenue and other metrics surpassing Wall Street expectations.
  • The company’s stock initially climbed after the earnings release but later reversed down.
  • For the current June quarter, Affirm expects revenue to top estimates.

Affirm Holdings (AFRM) reports a smaller-than-expected loss in the March quarter, surpassing Wall Street expectations. However, the company’s stock reversed down after the earnings call.

Affirm’s Earnings Report Details

The San Francisco-based company reported a 43-cent per share loss for the three months ended March 31. This is compared with an 86 cent per-share loss in the year-earlier period. Analysts had projected a loss of 57 cents per share. Affirm’s revenue climbed 51% to $576 million vs. estimates of $496.5 million. Revenue minus transaction expenses came in at $$231 million vs. estimates of $217 million.

Stock Market Reaction

On the stock market today, Affirm stock initially climbed mid-single digits after the earnings release. Shares reversed down after the company’s earnings call with analysts. AFRM stock was down 8.8% in morning trading.

Future Outlook

For the current June quarter, Affirm said it expects revenue of $595 million at the midpoint of its outlook, topping estimates of $579 million. It forecast GMV of $6.85 billion, edging by estimates of $6.65 billion.

Conclusion

Despite the initial positive reaction to Affirm’s earnings report, the company’s stock reversed down after the earnings call. However, the company’s future outlook remains positive with expected revenue for the June quarter surpassing estimates.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Michigan State Retirement Fund Invests $10 Million in Grayscale Ethereum Trust, Securing Major Stake

The Michigan State Retirement Fund has strategically positioned itself...

Grayscale Proposes Listing for Grayscale Digital Large Cap Fund (GDLC) as ETP with Bitcoin Dominating Holdings

On November 4, COINOTAG News reported that Grayscale has...

Fragmetric Completes Builder Round Financing to Enhance Solana Ecosystem Security and Liquidity

On November 4th, COINOTAG News reported that Fragmetric, a...

Vitalik Buterin Warns Against Exclusion of Russian Developers in Open Source Community

On November 4th, Vitalik Buterin, co-founder of Ethereum, took...

Bitcoin Volatility Soars Amid U.S. Election Impact on Crypto Markets

Bitcoin Volatility Surges as U.S. Election Heightens Stakes for...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img