On Thursday, Affirm Holdings jumped the gun on its quarterly earnings report, posting and then quickly deleting a tweet with details about its results while the market was still open.
Affirm is a well-known “buy now, pay later” service that allows users to pay for purchases in installments over time rather than all at once. The tweet from the financial technology company included an image labeled “FY Q2 2022 Earnings” as well as a link to Affirm’s investor relations website.
Shares initially rose after the tweet surfaced, only to fall more than 21% by 3 p.m. ET, roughly two hours after it was posted and deleted.
According to the post, the company used “our superior technology” to increase total transactions by 218 percent, active consumers by 150 percent, and revenue by 77 percent in the quarter. It’s still unclear whether those figures are correct.
According to screenshots circulating on Twitter, the deleted tweet said, “Another great quarter is in the books as we accelerated our growth.”
The deleted tweet praised Affirm for having “another great quarter.”
Affirm/Twitter
Affirm later acknowledged the error and released its earnings report ahead of schedule.
“A small portion of Affirm’s fiscal Q2 results were inadvertently tweeted from Affirm’s official Twitter account earlier today due to human error,” the company said.
The company was scheduled to release second-quarter earnings after the bell on Thursday, followed by a conference call with analysts at 5 p.m. ET.
Twitter users pounced on the apparent blunder, with many criticizing Affirm’s social media team for removing the post.
“Nice try, @Affirm,” one user wrote, “but we all saw that deleted tweet.”
“Today in lawyers having a bad day: Affirm Holdings’ general counsel, after their company’s official account apparently tweeted out (then quickly deleted) earnings data while the market was still open.” “Oops,” said attorney Max Kennerly.
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