SoFi Technologies reported third-quarter results Tuesday morning, Oct. 27. Yahoo Finance reported that revenue rose 43% to $1.38 billion and net income rose 73% to $241 million, both above analysts' expectations. The stock closed at $16.40, up 13.42%, on volume of about 158.8 million shares, roughly three times its recent average, according to The Motley Fool. Yahoo Finance said it was the stock's biggest one-day gain since April 9, 2025.
Guidance
CNBC reported that SoFi now expects full-year revenue of $5.04 billion, up from an earlier forecast of $4.75 billion to $4.85 billion and above the FactSet consensus of $4.87 billion. The company also raised its outlook for adjusted EBITDA.
Lending drove the quarter
- Total loan originations: a record $16.9 billion, up 71%
- Personal loans: $12.6 billion, up 69%
- Student loans: $2.9 billion, nearly double
- Home loans: $1.36 billion, up 44%
- Personal-loan annualized charge-off rate: 2.26%, down from 2.62% in the prior quarter
Yahoo Finance reported that financial services revenue rose 25% to $525 million. The technology platform business, which sells banking infrastructure to other companies, fell 24% to $87 million. Fool.com reported that total members rose 35%.
"We are not seeing evidence of a slowdown in how many members borrow, spend… save, or invest," CEO Anthony Noto said on the call. Yahoo Finance noted the shares had fallen about 50% from their peak a year ago through Monday's close, after a short-seller attack and concerns about the company taking on more balance-sheet risk.