Confirmed shares surged after announcing an expanded deal with Amazon
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shares ConfirmsThe digital buy now, pay later was up more than 21% in after-hours trading on Wednesday, after the company said it would expand its partnership with Amazon. The company also beat analyst estimates for revenue in the first quarter of the fiscal year.
Here’s how Affirm works compared to analyst estimates:
- EPS: $1.13 adjusted per share
- Revenues: $269.4 million, compared to $248.2 million, according to analysts’ estimates
As part of the new agreement with Amazon, Affirm will act as the only third party to buy now, and pay later for the e-commerce giant. Amazon will also integrate the platform into its US digital wallet, and it can be used on eligible Amazon purchases of $50 or more.
Affirm also gave strong guidance for the current quarter, estimated revenue of $320 million to $330 million, versus analysts’ expectations of $296 million.
company first The partnership was announced in August, a move that sent Affirm shares up nearly 47%. Among the company’s biggest competitors Postpaid And Klarna. An apple It is also reported to be working on an installment plan product in partnership with Goldman Sachs.
Confirmed shares closed down more than 15% in regular trading Wednesday.