Key Points
- SoFi rebounded in its stock price after announcing quarterly results that were stronger than expected.
- The company's revenue increased by 44%, and the total number of members reached 17.1 million.
In pre-market trading on Tuesday, the stock price of SoFi rose. Previously, this fintech company announced a 44% increase in quarterly revenue, with profits exceeding expectations and customer growth setting a record. After a cumulative decline of nearly 45% in 2026, this rebound has provided investors with some respite.
SoFi Technologies reports that revenue in the third quarter was $1.39 billion, higher than $961.6 million in the same period last year; net profit increased by 73% to $241 million.
SoFi Outperforms Wall Street Expectations, Stock Price Recovers
After adjustments, EBITDA reached $470 million, a 70% increase from the previous year, benefiting from the expansion of loan business and the reduction in financing costs.
SoFi This quarter, we also added a record 1.2 million new members, bringing the total number of customers to 17.1 million. The total number of products has reached 26.7 million, indicating that more and more customers are using multiple services on this platform.
Loans issued increased to $16.9 billion, including $12.6 billion in personal loans and $2.9 billion in student loans.
SoFi raises its revenue forecast for 2027 to $6.4 billion
Management has raised its revenue forecast for 2026 to approximately $5.04 billion after adjustments, which represents a year-over-year growth of about 40%.
This prediction implies that revenue will further increase by about 27% next year. However, the article points out that whether these results can be achieved depends in part on loan demand and the credit environment.
Not all businesses are expanding in sync. The revenue from the technology platform business decreased by about 23%, to 87.4 million US dollars, reflecting the impact of losing a major customer.
Meanwhile, SoFi continues to diversify its business beyond the loan sector through banking services, brokerage services, and cryptocurrency products. The company previously launched cryptocurrency trading services, providing trading access for Bitcoin, Ethereum, and Solana on its banking platform.
Thereafter, the company expanded its range of digital asset products, adding support for Solana deposits and XRP.
SoFi Can the stock price continue its upward trend driven by performance?
However, investors still face some questions, including credit quality, valuation, and whether higher interest rates will weaken consumer borrowing demand.
The company has also extended its SoFiUSD stablecoin into the digital payment sector, adding another potential growth opportunity beyond traditional financial services.
The article states that SoFi's expansion in the field of cryptocurrencies coincides with a time when stablecoins are posing challenges to traditional banking services, which could simultaneously bring new competition and revenue opportunities for financial institutions.
The author, Ethan Mercer, is a financial journalist who covers cryptocurrency, stocks, and the global economy. He studied economics and finance before turning to market reporting, with a particular focus on Bitcoin, stocks, monetary policy, and investor sentiment. His work focuses on explaining daily market fluctuations and the broader trends behind them.
