Observed Signal · Aug 28, 2026 · Earnings Report · Source: CNBC Technology · Impact: 4/5 · Sentiment: Neutral
Affirm CEO Says High Gas Prices Weigh on Shoppers
Affirm reported strong fiscal fourth-quarter results and raised near-term revenue guidance while CEO Max Levchin told CNBC that elevated U.S. gasoline prices are pressuring consumer spending. Affirm posted $1.17 billion in Q4 revenue, beat expectations on gross merchandise volume ($14.1 billion) and forecast fiscal Q1 revenue of $1.19–1.22 billion. The article cites AAA data showing a national average gas price of $4.09 per gallon and notes that inflation measures such as the PCE remain a consideration for policymakers.
This is an earnings report from a major BNPL provider showing consumer behavior signals and guidance that can influence commerce, retail media, and merchant payment strategies.
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Key Takeaways & Evidence Grounding
- Affirm reported fiscal fourth-quarter revenue of $1.17 billion, above the $1.11 billion LSEG estimate.
- Affirm expects fiscal first-quarter revenue of $1.19 billion to $1.22 billion, ahead of the Street expectation of $1.16 billion.
- Affirm's gross merchandise volume (GMV) was $14.1 billion, topping the $13.39 billion StreetAccount expectation.
- CEO Max Levchin said high gas prices are weighing on U.S. shoppers.
- The national average gas price was $4.09 per gallon, and the national average was last below $3 on March 2.
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Affirm Stock Has Room to Run, BofA Says
Bank of America reiterated its buy rating on Affirm and raised its 12-month price target to $88 from $82 after the BNPL company reported stronger-than-expected fiscal third-quarter results. Affirm posted $1.04 billion in revenue and $281 million in operating income (adjusted), both above analyst expectations, and guided fiscal-year revenue to $4.175–4.205 billion versus consensus of $4.14 billion. The bank's analyst Matthew O’Neill credited disciplined underwriting, healthy consumer demand and improving monetization, calling a recent 5% post-earnings pullback an "air pocket" ahead of an investor forum. Affirm has rallied roughly 32% over the past month and 38% over the past year; LSEG data shows 24 of 32 analysts rate the stock buy or strong buy.
Bank of America Bullish on Affirm Despite Modest Guidance
Affirm Holdings issued modest near-term growth guidance but beat fiscal fourth-quarter expectations, and Bank of America remains bullish. The bank reiterated a buy rating and raised its 12-month price target to $104 from $93, citing unmodeled growth vectors and potential catalysts such as a bank charter and brand-sponsored promotions. Affirm guided current-quarter revenue to $1.19 billion–$1.22 billion, above FactSet estimates. The article notes strong analyst support for the stock and recent substantial share gains over the past six months.
Affirm reports fourth fiscal quarter 2026 results
SAN FRANCISCO --(BUSINESS WIRE)--Aug. 27, 2026-- Affirm Holdings, Inc. (NASDAQ: AFRM) (“Affirm”) today reported financial results for its fiscal 2026 fourth quarter ended June 30, 2026.
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