On August 28, Affirm Holdings, Inc. rose 9.05% overnight, trading at $84.5/share, with turnover of $25,400. The rally was driven by the company's fiscal Q4 earnings report, which significantly exceeded Wall Street expectations across all key metrics.
Affirm reported Q4 revenue of $1.17 billion, beating the FactSet consensus estimate of $1.11 billion, representing 33% year-over-year growth. Gross merchandise volume surged 36% to $14.1 billion, well above the consensus expectation of approximately 29% growth. EPS came in at $4.62, dramatically surpassing the analyst estimate of $0.36. For fiscal Q1, the company guided revenue of $1.19B-$1.22B, above the $1.16B consensus. For the full fiscal year, Affirm expects GMV to exceed $64 billion, topping the $63 billion market estimate.
Additionally, the company announced the appointment of Michael Linford as President, effective August 27. Multiple institutions including Morgan Stanley and Oppenheimer had previously anticipated a Q4 beat, citing Bloomberg observed-sales data indicating stronger-than-expected GMV trends.
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