(Reuters) -Affirm shares jumped 22.8% on Friday, as a strong holiday shopping season helped the buy now, pay later lender post a surprise quarterly profit and forecast upbeat annual revenue. More consumers used its BNPL services to take advantage of heavy discounts by retailers on everything from apparel to electronics to lure budget-conscious shoppers during the holiday season.

Affirm stock is sizzling Friday after the BNPL firm handily beat earnings and revenue estimates in its most recent quarter. Here's what you need to know.