SoFi Reports Disappointing Guidance, Leading to Stock Decline
SoFi (SOFI) reported second-quarter revenue guidance below Wall Street expectations, leading to a 13% stock decline. Despite strong net income and revenue growth, the company's loan platform business underperformed, raising concerns. Management stated they intentionally held more loans on the balance sheet, which may have impacted results.
Tickers: $SOFI
Topics: earnings report loan platform business revenue guidance SoFi stock performance