Why Shares of Affirm Are Falling Today
Shares of the popular buy now, pay later company Affirm (NASDAQ: AFRM) had dropped roughly 23% just before the market closed today after the company released its latest batch of earnings results on Twitter sooner than expected.
Since the early drop, Affirm has released the full earnings results for the second fiscal quarter of 2022 on its investor relations website. For the three months ending on Dec. 31, Affirm reported a loss of nearly $160 million, or a loss of $0.55 earnings per share (EPS). Total revenue came in at $361 million for the quarter. Analysts had only been projecting an EPS loss of $0.34. However, revenue in the quarter did beat estimates handily.
Affirm also provided its outlook for the rest of the year, projecting that the company would generate revenue of about $1.3 billion in fiscal 2022. Affirm expects to generate an adjusted operating loss as a percentage of revenue between 12% and 14%.
Source Fool.com
