Affirm (AFRM) Stock Soar 27% Following Q1 Results, Expands Relationship With Amazon

Affirm Holdings (NASDAQ: AFRM) shares were trading around 27% higher after-hours, following the company’s reported Q1 results, with EPS coming in at ($1.13), worse than the consensus estimate of ($0.30). Quarterly revenue was $269.4 million, beating the consensus estimate of $248.23 million.

The company made an announcement, according to which it has expanded its relationship with Amazon to serve as Amazon's only third-party, non-credit card, buy now, pay later option in the U.S. Affirm will generally be available for all eligible purchases of >$50 on Amazon.com and the Amazon shopping app in the U.S, with consumers having the option to split the total cost of eligible purchases into monthly payments at checkout.

For Q2, the company expects GMV in the range of $3.55-$3.65 billion and revenue in the range of $320-$330 million. For the full 2022-year, the company expects GMV in the range of $13.13-$13.38 billion and revenue in the range of $1,225-$1,250 million.

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