The Long Investor

$AFRM - EARNINGS JUST RELEASED -

Added 2024-05-08 11:55:11 +0000 UTC

$AFRM reported a double beat with EPS beating by 38% and revenue ahead by 4.7% and up 4% in the PM now.

The bullish move leading up to earnings was an indication that the market was expecting a positive beat, there was some manipulation last night as certain people wanted cheap stocks before the release so I hope our members didn't fall for this trap.

Report today:

Company says Affirm Card is helping penetrate newer areas with BNPL

Shares of Affirm Holdings Inc. were powering higher in Wednesday's premarket action after the buy-now-pay-later company issued upbeat results and guidance.

Affirm (AFRM) expects June-quarter revenue of $585 million to $605 million, above the FactSet consensus view of $579 million.

For the latest quarter, Affirm's fiscal third, the company saw a 51% boost in revenue to $576 million, whereas analysts had been modeling $550 million. Revenue less transaction costs was $231 million, up 38%.

Affirm saw $6.3 billion in gross merchandise volume, up 36% from a year before. That marked the fourth quarter in a row of a growth acceleration on that metric.

The stock was up 4% premarket.

Wave 5 for us is still on track to hit $58 now.

Price is also above the 50 and 200 Day MA, a test and hold again of the 50 Day MA at $35 today is a buy signal