Affirm shares soar 16% on revenue beat, surprise profit during holiday period
Summary
Max Levchin, co-founder of PayPal and chief executive officer of financial technology company Affirm, arrives at the Sun Valley Resort for the annual Allen & Company Sun Valley Conference, in Sun Valley, Idaho. Affirm shares jumped 16% on Friday after the buy now, pay later company topped Wall Streets fiscal second-quarter revenue forecast and posted a surprise profit during a strong holiday shopping period. Earnings came in at 23 cents per share, ahead of the 15-cent-per-share loss expected by analysts polled by LSEG. The company also reported $866 million in revenue and showed 47% growth from a year ago. "We outperformed on adjusted operating income, which is our bottom-line profitability metric that we guide to," Chief Financial Officer Rob OHare told CNBC.