Affirm Holdings, Inc. ( AFRM ) released its third-quarter results after Thursday's closing bell. Here's a look at the key figures in the report.
The Details: Affirm reported quarterly losses of one cent per share, which beat the Street estimate of losses of three cents. Quarterly revenue of $783.13 million beat the consensus estimate of $783.03 million and is up from revenue of $576.16 million from the prior year’s quarter.
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For the third quarter, Affirm reported:
Gross Merchandise Volume (GMV) grew 36% to $8.6 billion.
Direct-to-Consumer GMV (D2C GMV) grew 50% to $2.4 billion and Affirm Card GMV within this grew 115%
to $807 million.
Active consumers, excluding the discontinued Returnly business, increased 23% to 21.9 million.
Active merchant count increased 23% to 358,000 at the end of the quarter.
“Demand for Affirm remains excellent: year-over-year GMV growth accelerated for the third consecutive quarter, including a strong March, which continued into April. Credit outcomes are in line with our predictions, and as always, we are watching attentively for any indicators of macroeconomic stress, and fine-tuning the settings of our models continuously, CEO Max Levchin wrote in a letter to shareholders.
AFRM Price Action: According to data from Benzinga Pro, Affirm stock was down 7.96% at $49.94 after-hours Thursday.
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