Affirm Holdings' fourth-quarter sales climbed as the company's platform handled more transactions.

The buy now, pay later company on Thursday posted a fourth-quarter profit of $1.62 billion, or $4.62 a share, compared with $69.2 million, or 20 cents a share, a year earlier. Analysts expected earnings of 35 cents a share, according to FactSet.

Revenue climbed 33% to $1.17 billion. Analysts had been looking for $1.11 billion.

Gross merchandise volume, which measures the total dollar amount of transactions processed on Affirm's platform, grew 36% to $14.1 billion. About half of that growth came from direct merchant point-of sale integrations, while much of the rest came from direct-to-consumer business, the company said.

Total transactions gained 41% to 53 million in the quarter, as average order value fell 4%.

For the first quarter, Affirm expects revenue of $1.19 billion to $1.22 billion, above analysts' projection of $1.16 billion.