Affirm (AFRM) Stock Jumps 9% on Earnings Beat and Shopify Australia Deal
TLDR
- Affirm beat Q4 revenue estimates with $1.2 billion, up 33% year over year
- Gross merchandise volume rose 36% to $14.1 billion, topping the $13.4 billion consensus
- AFRM stock rose 8.9% to $84.42 on Friday, its biggest single-day gain since January
- Affirm and Shopify are launching Shop Pay Installments in Australia
- Multiple analysts raised price targets, with Citi at $115 and J.P. Morgan at $105
Affirm posted a strong fiscal fourth quarter, beating Wall Street on both revenue and gross merchandise volume. The stock jumped 8.9% to $84.42 on Friday, its largest single-day move since January.
Revenue came in at $1.2 billion for the three months ended June 30, up 33% year over year and ahead of the $1.1 billion analysts had expected.
Gross merchandise volume hit $14.1 billion, a 36% increase and well above the $13.4 billion consensus estimate. Direct merchant point-of-sale integrations drove roughly half of that growth.
GAAP operating margins grew six percentage points from last year to 12.6%, reflecting the operating leverage the company has been building.
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