Shares of SoFi Technologies Inc (SOFI) are soaring 9.58% in pre-market trading on Tuesday, April 29, 2025, following the release of the company's better-than-expected first-quarter results and raised full-year guidance.

SoFi reported record net revenue of $772 million for Q1 2025, up 33% year-over-year and surpassing analyst expectations. The fintech company also posted a GAAP net income of $71 million, or $0.06 per share, double the $0.03 per share analysts had anticipated. Key performance metrics showed strong growth, with total members increasing 34% to 10.9 million and total products rising 35% to 15.9 million.

Investors were particularly encouraged by SoFi's improved financial outlook for 2025. The company raised its full-year guidance, now expecting adjusted net revenue of $3.235 to $3.310 billion, up from the previous range of $3.200 to $3.275 billion. SoFi also increased its adjusted EBITDA forecast to $875-$895 million and now projects GAAP net income of $320-$330 million, up from $285-$305 million previously.

CEO Anthony Noto attributed the strong performance to SoFi's "relentless focus on product innovation and brand building." The company saw growth across all business segments, with Financial Services revenue more than doubling to $303 million. SoFi's improving profitability and margins, along with its expanding product offerings and member base, appear to be resonating well with investors, driving the stock's pre-market rally.