SoFi Technologies Raises Full-Year Revenue Forecast Amid Positive Earnings
- SoFi Technologies reported strong third-quarter fiscal results, with adjusted sales of $689.445 million.
- The company exceeded earnings expectations, reporting 5 cents per share compared to the forecasted 4 cents.
- Following these developments, SoFi raised its full-year revenue forecast, indicating solid growth prospects.
On October 29, SoFi Technologies, Inc. reported third-quarter adjusted sales of $689.445 million, surpassing analyst expectations of $632.328 million. The company also revealed earnings of 5 cents per share, exceeding the estimated 4 cents per share. Additionally, SoFi revised its full-year revenue forecast to a range of $2.535 billion to $2.55 billion, an increase from the previous estimate of $2.425 billion to $2.465 billion. This revision reflects a strong performance amid a growing interest in its services. Meanwhile, Jim Cramer highlighted SoFi as a solid investment opportunity during his CNBC show. The positive financial results and guidance indicate SoFi's resilience and potential for growth in the competitive fintech market. The overall context underscores the company's strategic positioning amidst economic challenges faced by many firms in the tech sector.