SoFi Technologies Shares Surge 13% Following Strong Q3 Earnings and Optimistic Growth Forecast
SoFi Technologies (SOFI) saw its stock price jump over 13% on Tuesday following a robust third-quarter earnings report. The digital financial services provider reported a 44% surge in adjusted net revenue to $1.4 billion, driven by an expanding member base that grew 35% to 17.1 million users. This growth supports the company's strategic goal of becoming an 'everything app' for saving, investing, and lending. Looking ahead, management issued bullish guidance, projecting full-year adjusted net revenue to reach $5.04 billion in 2026. The company further expects significant expansion in 2027, with projected adjusted net revenue of $6.4 billion and earnings per share of $0.90. CEO Anthony Noto expressed high conviction in the company's long-term value creation through increased product usage and member acquisition.
Tickers: $SOFI
Topics: earnings report financial guidance fintech revenue growth