Affirm posts smaller loss on pandemic driven e-commerce boost

(Reuters) – Affirm Holdings Inc reported a smaller quarterly loss in its maiden results as a publicly traded company on Thursday, as more people used its buy now, pay later service to shop online during the COVID-19 pandemic.

Affirm, founded by PayPal Holdings Inc’s co-founder Max Levchin, reported a net loss attributable to common stockholders of $31.6 million, or 45 cents per share, for the second quarter ended Dec. 31, compared with a loss of $44.2 million, or 92 cents per share, a year earlier.

Analysts on average had expected a loss of 81 cents per share, according to Refinitiv IBES data. It was not immediately clear if the numbers were comparable.

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