Affirm Holdings Q4: Revenue Up 48%, EPS Beat, Stock Rises 15%

Aug 28, 2024, 08:16 PM

Affirm Holdings reported strong financial results for the fourth quarter of fiscal 2024, with revenue surging 48% year-over-year to $659 million, significantly beating the estimated $605.4 million. The company's earnings per share (EPS) improved to a loss of $0.14, compared to an estimated loss of $0.51, marking an EPS beat by 37 cents. Gross Merchandise Volume (GMV) grew 31% year-over-year to $7.2 billion, surpassing the estimated $7.18 billion. Affirm's operating income improved by $170 million, resulting in a reduced operating loss of $73 million, compared to a $244 million loss in the previous quarter. The net loss was reduced to $45 million. The company also provided optimistic guidance for the first quarter of fiscal 2025, forecasting revenue between $640 million and $670 million and GMV between $7.1 billion and $7.4 billion. Affirm's stock rose 15% in after-hours trading following the announcement, as the company aims to achieve GAAP profitability by the fourth quarter of fiscal 2025. The CEO stated, "We intend to be profitable on a GAAP basis in our fourth fiscal quarter and maintain GAAP profitability thereafter."