Affirm shares pop more than 10% on revenue beat

Core Viewpoint - Affirm's shares rose over 10% after reporting better-than-expected fiscal second-quarter results, highlighting strong growth in key metrics such as gross merchandise volume (GMV) and revenue [1] Group 1: Financial Performance - Affirm reported a gross merchandise volume (GMV) of $10.1 billion, exceeding the average estimate of $9.64 billion and marking the first time GMV surpassed $10 billion, representing a 35% increase year-over-year [2] - Revenue for the quarter increased by 47% to $866 million, compared to $591 million a year ago, indicating strong unit economics as revenue growth outpaced GMV growth [2][6] - Revenue less transaction costs (RLTC) surged 73% to $419 million, with an RLTC margin of 4.1%, surpassing the long-term target range of 3% to 4% [3] Group 2: Future Outlook - The company anticipates revenue for the current quarter to be between $755 million and $785 million, with a midpoint estimate of $770 million, slightly below the average estimate of $772 million [3] - Affirm aims to achieve profitability on a GAAP basis by the end of its fiscal fourth quarter of 2025 [3] Group 3: User Growth and Partnerships - Affirm has 21 million active consumers, reflecting a 23% year-over-year increase, and the Affirm Card has 1.7 million active users, up over 136% from the previous year [4] - Partnerships with major companies like Apple, Amazon, and Shopify are contributing positively to Affirm's results, with a notable collaboration allowing U.S. Apple Pay users to apply for loans directly through Affirm [5]