Why Affirm Holdings Stock Is Rising After Hours

Why Affirm Holdings Stock Is Rising After Hours

Affirm Holdings Inc AFRM shares are trading higher in Thursday's after-hours session after Amazon.com Inc AMZN shares jumped 12% on the back of better-than-expected financial results.

  • Revenue: $121.23 billion beat estimate of $119.09 billion
  • Adjusted EPS: $0.18 beat estimate of $0.13

"Despite continued inflationary pressures in fuel, energy, and transportation costs, we're making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network," said Andy Jassy, CEO of Amazon.

"We're also seeing revenue accelerate as we continue to make Prime even better for members," he added.

Amazon said it expects third-quarter revenue to be between $125 billion and $130 billion versus the estimate of $126.42 billion.

Related Link: Amazon Q2 Earnings Highlights: Revenue Beat, Loss On Rivian Investment, Prime Day, Guidance And More

Affirm had announced a partnership with Amazon last year. The e-commerce giant uses Affirm as a payment option on its platform. Amazon customers have the option to split the total cost of purchases into simple monthly payments using Affirm.

AFRM Price Action: Affirm has a 52-week high of $102.21 and a 52-week low of $13.64.

The stock was up 4.34% at $26.95 at press time, according to data from Benzinga Pro.

Photo: courtesy of Affirm.

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