Shares of Affirm, a company that lets people buy things now and pay later, jumped by 19.5% on Friday! This happened because a lot of shoppers used Affirm during the holiday season to score big discounts on clothes, gadgets, and more. With prices still high due to inflation, many people are looking for flexible payment options, and Affirm is stepping up to help.
In the last quarter, Affirm reported that the total money spent using its service climbed 35%, reaching $10.1 billion. This was more than what experts had predicted. Affirm also made a profit of $80.4 million, which is 23 cents a share, surprising analysts who were expecting a loss. This is the first time Affirm has turned a profit since going public!
The company shared that it partnered up with more popular stores, which helped increase sales through its service. Their total revenue grew by 47%, hitting $866 million, beating expectations. For the upcoming year, Affirm expects to earn between $3.13 billion and $3.19 billion, more than what many analysts foresee.
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