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Coinpaper 2026-07-29 12:41:28

SoFi Stock Falls 6% Despite $1.2B Revenue and Earnings Beat

SoFi Technologies Inc. reported stronger-than-expected second-quarter results on Wednesday, but SoFi stock came under pressure as investors weighed the company’s unchanged profitability guidance and continued weakness in its technology platform business. SoFi shares closed Tuesday at $16.74, down 0.83% during the regular trading session. The decline accelerated even more before Wednesday’s opening bell, with the stock falling another 5.86% to approximately $15.76 in pre-market trading. SoFi Technologies stock price (Source: Google Finance) The negative price action came despite SoFi reporting adjusted net revenue of $1.2 billion for the second quarter, which was an increase of 40% from the same period last year. SoFi Raises Full-Year Revenue Guidance SoFi increased its full-year adjusted net revenue forecast to between $4.75 billion and $4.85 billion. The updated range exceeded analysts’ expectations of approximately $4.7 billion. Press release However, the company maintained its adjusted EBITDA guidance at around $1.6 billion and its adjusted earnings-per-share forecast at approximately $0.60. The decision to leave those profitability targets unchanged may have disappointed investors looking for a broader guidance increase after the strong quarterly performance. Adjusted earnings reached $0.12 per share, which was slightly ahead of the $0.11 analyst consensus and 50% higher than the comparable period last year. GAAP net income rose to $156.6 million, compared with $97.3 million in the prior-year quarter. Net interest income increased by 52% to $788.2 million. Record Member Growth Supports SoFi’s Results SoFi added approximately 1.1 million members during the quarter, bringing its total membership to 15.8 million. That represented year-over-year growth of 35%. Loan originations climbed 69% to $14.8 billion. Personal loan originations reached a record $10.7 billion, while student loan originations rose to a record $2.7 billion. Home loan volume totalled approximately $1.4 billion. The lending segment generated adjusted net revenue of $711.7 million, up 59% from the previous year. Financial services revenue increased 29% to $466.3 million. However, technology platform revenue declined 23% to $84.5 million. SoFi attributed the contraction to the departure of a large client before the end of 2025. The company also reported stronger engagement across its product ecosystem. Existing members accounted for 51% of new products opened during the quarter, up from 43% in the previous quarter and 35% a year earlier. SoFi now expects total membership to grow by at least 30% during 2026. While the company’s revenue, earnings and customer-growth figures are strong, the sharp pre-market decline suggests expectations surrounding SoFi stock were already elevated ahead of the earnings release.

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