SoFi Technologies Shares Surge 13% Following Q3 Earnings Beat and Raised Guidance
SoFi Technologies (SOFI) saw its stock price jump over 13% to close at $16.40 after reporting third-quarter financial results that exceeded analyst estimates. The digital financial services platform reported a significant increase in net revenue, which rose 44%, and adjusted earnings per share (EPS), which soared by 64%. This growth was supported by a 35% increase in total members and a 44% jump in total financial products. Driven by strong performance, management raised its 2026 revenue guidance to a midpoint of $5.04 billion and set an adjusted EPS target of $0.90. CEO Anthony Noto highlighted the company's long-term ambitions, stating a goal to reach 100 million products by the end of 2030. The surge in trading volume, which reached approximately 209% above its three-month average, reflects strong investor confidence in SoFi's transition from a student loan provider to a full-suite digital bank.
