Block, Inc. (NYSE:SQ) shares are trading higher Thursday as peer "Buy Now, Pay Later" company Affirm Holdings, Inc.'s (NASDAQ:AFRM) stock surges following better-than-expected quarterly results.
Block offers Buy Now, Pay Later (BNPL) services through Afterpay which the company acquired in 2022. Affirm’s earnings and upbeat guidance may be lifting sentiment in the sector.
The Details:
Affirm beat analyst expectations on the top and bottom lines with quarterly revenue growing nearly 50% year-over-year. The company also issued guidance well-above Street estimates for the first-quarter.
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