(Affirm)

Affirm shares sink as the buy now, pay later giant posts surprise profit but disappointing guidance

Revenue surged in the third quarter, but the future may not be so bright.

5/9/25 1:14PM

Affirm shares were down 13% Friday afternoon after the payment installment company posted a surprise Q3 profit but gave a chillier revenue outlook.

Adjusted earnings per share came in at $0.01, swinging to a profit from last year’s loss and beating expectations for a $0.03 loss. Revenue was in line with estimates at $783 million, while gross merchandise volume (an important metric that tracks total transactions) topped forecasts, jumping 36% to $8.6 billion.

Despite the beat, investors were spooked by a cautious revenue forecast for the current quarter, with the midpoint landing below Wall Street targets. The slowdown comes as the broader US economy feels the impact of new Trump-era tariffs and cooling consumer spending, with lower-income shoppers in particular pulling back.

On the flip side, Affirm’s Gross Merchandise Volume (GMV) growth has stayed resilient, fueled in part by the company’s 0% loan offers and new users joining through Apple and Amazon.

Affirm expects Q4 GMV to land between $9.4 billion and $9.7 billion, with the midpoint of $9.55 billion topping estimates.

Despite Friday’s sell-off, Affirm shares are still up nearly 35% year to date.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Affirm shares sink as the buy now, pay later giant posts surprise profit but disappointing guidance

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