Affirm shares soared nearly 32% on Thursday, notching their best day in almost three years, after the provider of buy now, pay later loans beat on the top and bottom lines in its earnings report.
It was the third-biggest gain for the stock since the company’s IPO in January 2021. Shares closed at $41.66.
Affirm said late Wednesday that revenue in the fiscal fourth quarter climbed 48% from a year earlier to $659 million, and that its net loss narrowed to $45.1 million from $206 million in the same period a year ago. The company beat estimates for revenue and reported a narrower-than-expected loss.
For the current quarter, Affirm sees revenue in the range of $640 million to $670 million. Analysts polled by LSEG called for revenue of $625 million.
Affirm CEO Max Levchin said in a note to shareholders that the company set a new goal of hitting operating profitability on a …