Shares of Affirm (AFRM) are trading lower as the company reported second-quarter revenue that increased by 48%, but their full-year guidance fell short of Wall Street expectations. In response to the company’s performance, Affirm CFO Michael Linford discussed how the business has adapted to the current interest rate environment and emphasized the company’s ability to support consumers with financial products, noting that the consumer is still spending and highly engaged despite strong employment data.
Despite the significant increase in second-quarter revenue, Affirm’s full-year guidance did not meet the expectations of Wall Street, leading to a decrease in their stock price. This disappointing guidance has raised concerns about the company’s ability to meet future financial targets. However, Affirm’s CFO, Michael Linford, remains optimistic about the company’s performance, highlighting how the business has retooled to operate in the current interest rate environment and its ability to continue supporting consumers with financial products.
Linford emphasized that despite the challenges posed by the current economic environment, the consumer is still spending and highly engaged, supported by strong employment data. He expressed confidence in the company’s ability to serve consumers and remain well-positioned in this environment, reflecting optimism in Affirm’s potential to navigate the challenges and continue providing valuable financial products to consumers.