CEO of buy now, pay later giant Affirm says high gas prices are hitting U.S. shoppers
The national average price for gas is at $4.09 per gallon and was last below $3 on March 2.
TL;DR
- High gas prices are making U.S. consumers more budget-conscious, increasing demand for Affirm's services.
- Affirm reported fiscal fourth-quarter revenue of $1.17 billion, beating estimates.
- The company expects fiscal first-quarter revenue between $1.19 billion and $1.22 billion, surpassing expectations.
- Gross merchandise volume reached $14.1 billion, exceeding the $13.39 billion expectation.
- The annual inflation rate was 3.7% in July, with the PCE increasing 0.2%.