Affirm Holdings shares closed 8.9% higher at $84.42 on Friday after the buy now, pay later company delivered fiscal fourth-quarter results that beat Wall Street estimates, marking its strongest single-session gain since January. Revenue came in at about $1.2 billion, up 33% year over year and ahead of roughly $1.1 billion in consensus forecasts, with related accounts citing sales of $1.165 billion versus a $1.106 billion estimate and adjusted EPS of 48 cents against a 34-cent consensus; GAAP EPS of $4.62 reflected a large tax benefit. Gross merchandise volume rose 36% to $14.1 billion, topping a $13.4 billion forecast, while transactions reached 53 million, up 41%, and GAAP operating margin expanded six percentage points to 12.6%. About half of the GMV expansion was tied to direct point-of-sale merchant integrations, and president Michael Linford called the quarter a “home run,” the 11th straight with GMV growth above 30%. Affirm and Shopify are introducing Shop Pay Installments in Australia, offering fortnightly or monthly plans with no late fees. For fiscal 2027, Affirm projects GMV above $64 billion versus about $63 billion in consensus and revenue of more than $5.44 billion, with a longer-term $100 billion GMV ambition. Analysts lifted targets, including Citi at $115, Susquehanna at $110, and J.P. Morgan at $105.