SoFi Technologies (SOFI) has beaten the expectations of Wall Street for its second-quarter earnings report, sending its stock higher in early trading as seen on Tuesday.
SoFi Technologies (SOFI) is a fintech firm that is based in San Francisco. The company made adjusted profits of 8 cents per share, with revenue increasing 44% year-over-year to $858 million.
Financial analysts in their estimations predicted gains of 6 cents on $804 million in revenue. This great outing by the fintech company marked another quarter of accelerating growth for the San Francisco-based firm, which had a report of only 1 cent in GAAP earnings last year.
In trying to look at what the future holds for the company, SoFi raised its full-year 2025 revenue guidance to $3.375 billion, up $65 million from estimations made before. SoFi, in a bold statement, assures that it is yet to back down from its earlier projection for 30% annual growth.
One of the reasons for the company’s success is its growing user base, but Matthew Coad, a Truist Securities analyst, warned that the success may be conservative looking at the company’s strong start to 2025.
SoFi Technologies (SOFI)’s financial capacity is the reason it will continue to maintain its position in the financial technology space.
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