Affirm Reports Strong Q1 2027 Results with 35% Revenue Growth and Surging Card GMV
Affirm (AFRM) delivered robust first-quarter fiscal 2027 results, headlined by a 35% year-over-year increase in revenue to $1.3 billion. The company's Gross Merchandise Volume (GMV) reached $14.4 billion, marking its 12th consecutive quarter of growth exceeding 30%. Net income saw a significant jump to $164 million, up from $81 million in the prior year, driven by higher interest income and improved funding costs. A major catalyst for this growth was the Affirm Card, which saw GMV surge 117% year-over-year to $3.3 billion. While the company noted a slight increase in its 30+ day delinquency rate to 2.9% due to seasonal trends and experimental loan originations, management provided optimistic guidance for Q2 2027, projecting GMV between $17.9 billion and $18.2 billion as the holiday shopping season approaches.
Tickers: $AFRM
Topics: Active Consumers Fintech Gross Merchandise Volume Net Income Revenue Growth