Affirm soars as BNPL lender aims to turn profit ahead of Street targets

Quick Summary:

Affirm shares rose 33 per cent on Thursday after the buy-now-pay-later lender trounced estimates for quarterly results and said it expects to be profitable by the fourth quarter of next fiscal year, sooner than Wall Street had forecast.

Shopping trolley is seen in front of Affirm logo in this illustration, July 24, 2022.

The company's net revenue jumped 48 per cent to $659.2 million in the three months ended June 30, beating LSEG estimates of $603.7 million.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Estimates Cent Affirm Profitability Results Fiscal Street Strong Quarter Growth Forecast

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 00:13:14 (3 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 385 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22299380

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Official Website: channelnewsasia.com

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