Affirm Holdings (NASDAQ:AFRM) stock is running higher on Friday after the payment plan company released its earnings report for fiscal Q4 2021.
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The earnings report from the company is mixed but that isn’t keeping AFRM stock from rising higher today. Starting with the negative, diluted losses per share of 48 cents were below Wall Street’s estimate of -29 cents per share. They also experienced a negative switch from diluted earnings per share of 17 cents during the same time last year.
Even so, strong revenue of $261.78 million was enough to send AFRM stock soaring today. That beats out analysts’ revenue estimate of $226.39 million for the quarter. It’s also a 71% increase from the same period of the year prior.
More highlights for ARFM stock comes from its outlook. That starts with it expecting revenue to come in between $240 million to $250 million in fiscal Q2 2022. This would have it beating out Wall Street’s estimate of $233.89 million.
For its fiscal full year of 2022, the company expects revenue to range from $1.16 billion to $1.19 billion. To put that in perspective, analysts are estimating revenue of $1.17 billion for the company’s current fiscal year.
Following the release of its earnings report, AFRM stock is seeing heavy trading this morning. As of this writing, more than 8 million shares of the stock have changed hands. That’s already double the company’s daily average trading volume of 4.1 million shares.
AFRM stock was up 19.1% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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