SoFi Technologies Reports Q1 Earnings in Line with Expectations but Faces Stock Decline
SoFi Technologies reported Q1 revenue of $1.1 billion, up 41% year-over-year, meeting expectations, but its stock fell 13.8% following disappointing performance in fee-based revenue and a decline in banking-as-a-service platform revenue. The company maintained full-year revenue guidance of $4.66 billion but underperformed in certain business lines.
Tickers: $SOFI
Topics: Earnings Market Reaction Revenue SoFi Technologies Stock Performance