Affirm cautious as inflation saps buy-now, pay-later users

By KEN SWEET
AP Business Writer

NEW YORK (AP) — The stock of buy-now, pay-later company Affirm have fallen after the company gave a more cautious outlook for its current fiscal year. The outlook came with the company’s report of a quarterly loss that was wider than what Wall Street expected. Affirm grew rapidly in the past two years as American consumers increasingly tried online installment loans. But high inflation has raised investor concern about borrowers’ ability to keep up with their monthly payments. Affirm’s stock fell about 14% in after-hours trading Thursday.