Affirm Holdings reported results for its fiscal 2027 first quarter, ended September 30, 2026, and furnished a shareholder letter to the U.S. Securities and Exchange Commission on Form 8-K. The company said it would host a conference call and webcast to discuss the results. On November 6, its stock traded lower despite beating earnings estimates and raising forward guidance. Investors weighed those results against concerns about higher credit provisions and new loan tests conducted by the company.
Operating income rose 194% to $187 million, while the provision for credit losses climbed to 6.3% of loans held for investment.
Read the full storyFirst-quarter results showed higher revenue and net income, while credit loss provisions and delinquency rates increased; the company also set its outlook for the second quarter and fiscal year.
The company posted its eighth consecutive GAAP-profitable quarter as gross merchandise volume reached $14.4 billion and its shares fell on results day.