Why Affirm Shares Are Rising

Affirm Holdings Inc AFRM shares are trading higher after the company reported better-than-expected first-quarter sales results and issued second-quarter and FY22 sales guidance above estimates.

Affirm reported quarterly losses of $1.13 per share which missed the analyst consensus estimate of a loss of 30 cents per share. Affirm reported quarterly sales of $269.40 million which beat the analyst consensus estimate of $248.23 million by 9%.

The company announced that it has expanded its relationship with Amazon AMZN. Affirm will be generally available to support all eligible purchases of $50 or more on Amazon.com and the Amazon shopping app in the United States.

"Our strong quarter once again demonstrates the continued momentum across Affirm as more people embrace the transparency, flexibility and value our solutions provide," said Max Levchin, Founder and CEO of Affirm.

"Our unrivaled technology, industry-leading talent and the investments we are making are delivering results. Over the last year, we expanded our network by increasing the number of active merchants on our platform to over 100,000 and more than doubling the number of active consumers. These deep connections and our partnerships with merchants drove growth in GMV, frequency of engagement, and revenue," Levchin stated.

Affirm has a 52-week high of $176.65 and a 52-week low of $46.50.