July 14, 2024
Affirm stock sinks as loss more than triples, bank stress and rising rates spark concerns

Affirm stock sinks as loss more than triples, bank stress and rising rates spark concerns

Affirm Holdings Inc.’s wounded shares sank anew Tuesday afternoon, as the buy-now, pay-later service saw losses more than triple in its most recent quarter and faced interest-rate concerns.

Affirm AFRM reported a fiscal third-quarter loss of $205.7 million, or 69 cents a share, more than three times the loss of 19 cents a share recorded in the same quarter a year ago. Net revenue increased to $381 million from $355 million last year, while gross merchandise volume — the total amount of money passing through the platform, referred…

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