Affirm (NASDAQ:AFRM) shares are moving higher following Q2 earnings results which ended on December 31, 2024.
Yesterday, the Fintech reported revenue of $866 million, an increase of 47% versus the same quarter year prior and net income of $80 million a $247 million improvement.
The company said it “exceeded the outlook established in our previous letter on all financial metrics.”
In the company’s shareholder letter, Affirm claimed to “in the strongest shape it’s ever been.”
“Challenges met, competitors bested: excellent growth in a rapidly expanding segment, on-target unit economics, robust operating leverage.”
Affirm stated that they are confident in their ability to “profitably operate Affirm in just about any rate environment, including one where interest rates remain higher for longer.”
Affirm guided for top line revenue of $755 – 785 million in Q3 and $810 – 840 million in Q4. For the full year the company anticipates $3.13 – 3.19 billion in revenue.
Best known for its credit products or buy now pay later (BNPL) service, Affirm said that gross merchant volume (GMV) from their top five merchants and platform partners collectively grew 40%.
Shares in Affirm are trading considerably higher after pleasing Wall Street. At the moment shares are up by over 20% versus yesterday’s close.
