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      Affirm Holding Inc. (AFRM) stock Recovers After Hours. What happened? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      February 4, 2022

      7:22 AM UTC

      Affirm Holding Inc. (AFRM) stock Recovers After Hours. What happened? - Stocks Telegraph

      On February 03, Affirm Holding Inc. (AFRM) stock recovered in the after-hours to reach $62.05 per share. With no new announcements, the stock might be gaining due to positive expectations for its upcoming earnings.

      During regular trading, the stock remained in the red with a loss of 5.58% at its closing price of $57.49. The stock made a comeback in the after-hours to gain 7.93% at a volume of 367.27K shares.

      The San Francisco-based financial technology company Affirm Holding Inc. has a market capitalization of $17.39 billion. Currently, the company has 208.2 million shares outstanding in the market.

      What Happened with AFRM?

      AFRM expects to declare its fiscal Q2 2022 financial results on February 10, 2022, at 5:00 pm ET. Since there is no new announcement or SEC filing from the company, the stock seems to be gaining on positive expectations for the earnings. So far, the market is expecting year over year earnings increase on higher revenues for the upcoming results. While there is no certainty of what will actually happen, investors seem hopeful. Thus, the cheerful expectations seem to have led the stock towards a bullish path in the after-hours on Thursday.

      In the past five days, AFRM has added a value of 12.70% while losing 42.83% year to date.

      super app and Browser Extension Launch

      On January 26, the company announced the launch of two important additions to its product suite. These two new additions are the Affirm SuperApp and Chrome browser extension.

      The new SuperApp provides its best shopping, payments, and financial services in a single easy-to-use destination. Furthermore, the Google Chrome browser extension allows the use of its payment solutions at any website. Users can go for the company’s payment solutions through the extension even if it isn’t listed available at checkout.

      In addition, the consumers can see their AFRM snapshot, shop exclusive offers online or in-store, earn cash-back rewards and manage payments along with savings through the new app.

      Affirm Holding Inc. Q1 Fiscal 2022 Results

      On November 10, the company announced its financial results for fiscal Q1 2022, which ended on September 30, 2021.

      In fiscal Q1 2022, AFRM’s total revenues grew by 55% year over year to $269.4 million.

      The company incurred a net loss of $306.6 million in fiscal Q1 2022, against $3.9 million in fiscal Q1 2021. This includes an increase in stock-based compensation following the company’s IPO in January 2021 along with additional expenses based on a change in fair value.

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