SoFi (SOFI) stock fell 9% on Wednesday morning after it reported second quarter earnings. Despite posting its eighth consecutive quarter of record revenue and raising full-year sales guidance, concerns swirled around its costs and soaring consumer lending.
The fintech bank reported $1.2 billion in net revenue. Net income beat ****** yst estimates, rising 61% from the year-ago period to $157 million, or $0.12 adjusted earnings per share (EPS). ****** ysts were expecting $0.11 per share.
"We had nothing short of an exceptional quarter," CEO Anthony Noto said during the Wednesday morning earnings call.
SoFi also raised its adjusted revenue guidance for the full year to between $4.75 billion and $4.85 billion. But it left its adjusted EPS forecast unchanged at $0.60, raising questions about its added spending.
#quarter #earnings #year #billion
The fintech bank reported $1.2 billion in net revenue. Net income beat ****** yst estimates, rising 61% from the year-ago period to $157 million, or $0.12 adjusted earnings per share (EPS). ****** ysts were expecting $0.11 per share.
"We had nothing short of an exceptional quarter," CEO Anthony Noto said during the Wednesday morning earnings call.
SoFi also raised its adjusted revenue guidance for the full year to between $4.75 billion and $4.85 billion. But it left its adjusted EPS forecast unchanged at $0.60, raising questions about its added spending.
#quarter #earnings #year #billion
2 months ago
