By Angel Au-Yeung

Shares of Affirm Holdings, a buy now, pay later loan provider, jumped over 10% in after-hours trading after it reported its fiscal second quarter earnings results on Thursday.

The key numbers:

-- The company reported $866 million in revenue for the quarter, well above analysts' estimates.

-- The company's gross merchandise volume-a metric that measures the total value of transactions made on the platform- also topped $10 billion for the first time.

-- The company has 21 million active consumers using its products, a 23% increase from a year ago.

In an interview with The Wall Street Journal, Affirm CEO Max Levchin said he's seeing healthy spending behaviors from the company's consumers. "They're doing well which seems surprising to a bunch of people, although not us," said Levchin.

Travel remains a strong category for Affirm, with a 38% increase in volume growth compared with a year ago. Electronics are also making a comeback after a dip in the category following the busy pandemic period, while sporting goods and outdoor equipment dropped 10% in volume compared with the same time last year.

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(END) Dow Jones Newswires

February 06, 2025 18:12 ET (23:12 GMT)

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