Affirm Q2 Earnings: Revenue Beat, EPS Beat, Operating 'With Excellence' And More
Portfolio Pulse from Adam Eckert
Affirm Holdings Inc (NASDAQ:AFRM) reported its fiscal Q2 earnings with a 48% year-over-year revenue increase to $591.1 million, surpassing the consensus estimate of $520.62 million. The company also beat EPS estimates with a loss of 54 cents per share against an expected loss of 72 cents. Gross merchandise volume grew by 32%, and revenue minus transaction costs was up 68% year-over-year. Affirm's outlook for Q3 anticipates revenue between $530 million to $550 million, exceeding analyst expectations. Despite the positive report, AFRM shares dropped 8.37% after hours to $45.10.
February 08, 2024 | 9:32 pm
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Affirm Holdings Inc reported a significant year-over-year revenue increase and a smaller loss per share than expected in its fiscal Q2 earnings. The company's Q3 revenue outlook also surpasses analyst expectations. However, shares dropped 8.37% after hours.
Despite Affirm's positive earnings report and optimistic revenue outlook for Q3, the immediate after-hours reaction saw a significant drop in share price. This suggests that, in the short term, investor sentiment may be leaning negative, possibly due to broader market conditions or profit-taking after the announcement. However, the strong performance and positive outlook could provide a basis for recovery in the medium to long term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100