Affirm shares soared on Thursday after the provider of buy now, pay later loans reported better-than-expected quarterly results.
The company reported a per share loss of 14 cents, while analysts were expecting a loss of 51 cents per share.
If the rally holds, it will be the third-biggest rally for the stock since the company's IPO in January 2021. The stock was trading at $42.17 as of early afternoon.climbed 48% from a year earlier to $659 million, and that its net loss narrowed to $45.1 million from $206 million in the same period a year ago. The company beat estimates for revenue and reported a narrower-than-expected loss.
Affirm CEO Max Levchin said in a note to shareholders that the company set a new goal of hitting operating profitability on a GAAP basis by the fiscal fourth quarter of 2025.
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