Affirm posts strong quarterly results and raises full-year forecast
Updated
Updated · CNBC · May 7
Affirm posts strong quarterly results and raises full-year forecast
2 articles · Updated · CNBC · May 7
Gross merchandise volume rose 35% and revenue 33%; CEO Max Levchin said spending and credit quality remain healthy despite record-low May consumer sentiment.
The buy now, pay later lender had reported fiscal third-quarter net income of $102.9m on revenue of $1.04bn and lifted annual revenue guidance to $4.18bn-$4.21bn.
Levchin said consumers are still shopping and paying bills on time, with stronger demand in travel, ticketing and home goods even as inflation and high petrol prices weigh on confidence.
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