Affirm drops 8% on weaker-than-expected guidance for current quarter

For the current quarter, Affirm is guiding for revenue between $815 million and $845 million — with a midpoint of $830 million, below the average estimate of $841 million, according to LSEG. Adjusted operating margin was 22%, compared to StreetAccount's estimate of 21.6%. Affirm reported net income of $2.8 million, or a penny a share, compared to a loss a year earlier of $133.9 million, or 43 cents a share. Revenue in the quarter rose 36% from $576 million a year ago . The company's key margin metric — revenue less transaction costs, or RLTC —came in at 4.1%, slightly above its long-term target range of 3% to 4%. Affirm reported gross merchandise volume, or GMV, of $8.6 billion, topping the average estimate of $8.2 billion, according to StreetAccount. GMV, a key metric that helps gauge the total value of transactions, increased 36% from a year earlier. Here's how the company did, compared to analysts' consensus estimates from LSEG: Affirm , the provider of buy now, pay later loans ... Read full article.