RTTNews | Sep 10, 2021 10:15AM EDT

10:14 Friday, September 10, 2021 (RTTNews.com) - Shares of financial technology company Affirm Holdings, Inc. (AFRM) are rising more than 23% Friday morning after reporting more than 70% revenue growth in the fourth quarter.

Revenue for the quarter increased 71% year-over-year to $261.8 million.

The company said its active merchants grew by 412% to nearly 29,000 for the fourth quarter and active consumers grew 97% to 7.1 million.

However, the company reported net loss of $128.23 million or $0.48 per share in the fourth quarter compared with net income of $34.81 million or $0.17 per share, on higher expenses. Analysts polled by Thomson Reuters expected the company to report loss of $0.29 per share.

Looking forward to the first quarter, Affirm expects revenue to be in the range of $240 million-$250 million. The consensus estimate stands at $233.89 million.

For the full-year revenue is expected between $1.16 billion and $1.19 billion. Analyst see revenue of $1.17 billion.

AFRM, currently at $113.82, has traded in the range of $46.50- $146.90 in the last 52 weeks.

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