Affirm posts larger-than-expected loss, shares sink

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-Affirm Holdings Inc on Thursday posted a larger-than-expected loss for the second quarter as the buy now, pay later firm spent more on stock-based compensation following its initial public offering.

Its shares were down 15% in afternoon trading.

The company reported results a couple of hours earlier than scheduled after it accidentally posted a tweet with some financial metrics on its twitter handle and deleted it minutes after.

Net loss attributable to common shareholders widened to $159.74 million, or 57 cents per share, in the three months ended Dec. 31, from a loss of $26.61 million, or 38 cents per share, a year earlier.

Analysts were expecting a loss of 34 cents per share, according to IBES data from Refinitiv.

Total revenue rose 77% to $361 million, beating estimates of $328.8 million.

(Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)