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MaxNg
2022-05-13

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Affirm Shares Surged 32% in Premarket Trading

Affirm raised its annual revenue forecast and said it has extended a multi-year partnership with Shopify in the United States.

Affirm Shares Surged 32% in Premarket Trading

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We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,&#34; Chief Executive Officer Max Levchin said.</p><p>Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.</p><p>The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.</p><p>Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Affirm Shares Surged 32% in Premarket Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Chief Financial Officer Michael Linford said in a statement.</p><p>The company&#39;s results are in sharp contrast to fintech firm Upstart Holdings, which lowered its annual revenue outlook on Tuesday in a sign of declining loan demand as interest rates rise amid decades-high inflation.</p><p>Affirm said active merchants on its platform grew to 207,000 from 12,000 last year, while active consumers increased 137% to 12.7 million.</p><p>BNPL firms like Affirm earn from charging merchants a fee to offer their customers small, point-of-sale loans which are paid back in interest-free installments over a period of time, bypassing credit checks.</p><p>&#34;Affirm is well-positioned for continued growth and long-term value creation ... We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,&#34; Chief Executive Officer Max Levchin said.</p><p>Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.</p><p>The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.</p><p>Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AFRM":"Affirm Holdings, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140145176","content_text":"Affirm Shares Surged 32% in Premarket Trading.Affirm Holdings Inc raised its annual revenue forecast and said it has extended a multi-year partnership with Shopify in the United States.San Francisco-based Affirm's third-quarter revenue surged 54%, surpassing the company's estimates, as it benefited from higher interest income and loan sale volumes as well as a surge in users.\"Our strong performance demonstrates our ability to drive growth with attractive unit economics, despite volatile market conditions,\" Chief Financial Officer Michael Linford said in a statement.The company's results are in sharp contrast to fintech firm Upstart Holdings, which lowered its annual revenue outlook on Tuesday in a sign of declining loan demand as interest rates rise amid decades-high inflation.Affirm said active merchants on its platform grew to 207,000 from 12,000 last year, while active consumers increased 137% to 12.7 million.BNPL firms like Affirm earn from charging merchants a fee to offer their customers small, point-of-sale loans which are paid back in interest-free installments over a period of time, bypassing credit checks.\"Affirm is well-positioned for continued growth and long-term value creation ... We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,\" Chief Executive Officer Max Levchin said.Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.","news_type":1},"isVote":1,"tweetType":1,"viewCount":628,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}