SoFi Technologies Lifts FY Revenue Target After 2Q Gains

Dow Jones
07/29
 

SoFi Technologies boosted its full-year revenue forecast after another quarter of soaring revenue and higher earnings.

The financial services company said it now expects adjusted revenue to hit $4.75 billion to $4.85 billion this year, up 32% to 35% from 2025. It was previously projecting a 30% increase.

The raise came after SoFi posted a profit of $156.6 million for the second quarter, jumping from $97.3 million in the same period a year earlier.

Per-share, earnings were 12 cents, up from eight cents in the year-earlier quarter and a penny higher than analysts had been expecting, according to FactSet.

Revenue surged 43% to $1.22 billion, ahead of analyst projections for $1.11 billion.

Fee-based revenue was up 39% thanks to climbing origination fees, revenue from the company's Tech Solutions business, higher interchange revenue and brokerage fee revenue and a strong performance from the company's loan platform.

SoFi added another 1.1 million members during the quarter, bring the count up by 35% year-over-year to 15.8 million.

 
 

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