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Affirm’s stock pops after earnings bring narrowing loss, big revenue beat

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‘We are prepared to grow our business at pace while managing credit in the higher-for-longer interest rate environment,’ company says

Affirm Holdings Inc. logged a big revenue beat for its latest quarter, and shares of the buy-now-pay-later operator were moving higher in the extended session after Wednesday’s report.

Affirm’s AFRM, -1.49% revenue rose to $497 million from $362 million, while the FactSet consensus was for $444 million. Excluding transaction costs, revenue was $212 million, or 3.8% of gross merchandise volume. The company noted “a modest seasonal increase in delinquencies ,” and its “loss allowance increased accordingly.”Affirm’s gross merchandise volume clocked in at $5.6 billion, above the $5.4 billion that analysts were modeling.

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