Affirm Holdings revenue increased 51% in Q3: find out more

Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter. 

Affirm stock rallies on impressive outlook

The stock is being rewarded also because $AFRM issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter.

Analysts, in comparison, were at $576 million. Max Levchin - the chief executive of Affirm Holdings said in a letter to shareholders today:

The Nasdaq-listed firm forecasts up to $6.95 billion in gross merchandise volume (GMV) in Q4. Affirm stock is now up nearly 20% versus its year-to-date low. 

Notable figures in Affirm Q3 earnings release

• Lost $133.93 million versus the year-ago $205.67 million
• Per-share earnings also narrowed from 69 cents to 43 cents
• Active consumers increase 13% to 18.1 million as per the earnings report
• Revenue climbed 51% year-over-year to $576 million
• Consensus was 69 cents a share loss on $550 million in revenue

Affirm saw its GMV grow 36% to $6.3 billion in its thid quarter. CEO Levchin also said on Wednesday:

Note that $AFRM is no longer the exclusive provider of BNPL loans at Walmart after peer One launched its buy now pay later services in April as Invezz reported here.