SoFi Technologies Reports Strong Third-Quarter Growth and Raises Future Guidance
SoFi Technologies (SOFI) delivered a robust third-quarter earnings report, highlighted by a record addition of 1.2 million new customers and significant growth in product cross-selling. Adjusted net revenue surged 44% year-over-year, while earnings per share (EPS) rose 64% to $0.18. The company's 'one-stop shop' strategy is gaining traction, with products per customer increasing to 1.67. Following these results, management raised its 2026 outlook, projecting adjusted net revenue of $6.4 billion and an EPS of $0.61. Looking ahead to 2027, the company provided guidance implying 27% growth with an expected EPS of $0.90. Despite recent stock volatility, analysts suggest the current valuation—trading at 18 times next year's earnings—represents an attractive entry point for long-term investors.
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Topics: customer acquisition earnings report guidance upgrade revenue growth