Why Shares of Affirm, Toast, and Payoneer Global Are Rising Today

Shares of several payments and e-commerce companies shot up today after reporting earnings results for the three months ending March 31.

As of 10:50 a.m. ET, shares of Affirm Holdings (NASDAQ: AFRM) traded roughly 21% higher, Payoneer Global (NASDAQ: PAYO) was up more than 30%, and Toast (NYSE: TOST) gained more than 12%.

Buy now, pay-later (BNPL) company Affirm reported a net loss of $0.19 earnings per share on total revenue of nearly $355 million, both numbers that beat analyst estimates for the quarter. Gross merchandise volume (GMV) for the quarter was roughly $3.9 billion, up 73% year over year, while active consumers jumped to 13.7 million, up 137% year over year.

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Source Fool.com