Affirm Holdings (NASDAQ:AFRM) shares jumped more than 9% after-hours following the company’s reported Q1 results, with EPS of ($0.57) coming in better than the consensus estimate of ($0.64).
Revenue increased 37% year-over-year to $497 million, compared to the consensus estimate of $444.45M. Revenue as a percentage of GMV (Gross merchandise volume) increased to 8.8%, primarily driven by higher interest income as loans held for investment increased and the company realized the benefits of its pricing initiatives.
RLTC (Revenue less transaction costs) was $212M, representing a 16% year-over-year growth. GMV rose 28% year-over-year to $5.6 billion.
For Q2/24, the company expects revenue in the range of $495-$520M, compared to the consensus estimate of $502M. GMV is seen at $6.70-$6.90B.
For the full year, the company expects a GMV of more than $24.25B, with the revenue as a percentage of GMV similar to fiscal 2023.