SoFi Stock Climbed 2.5% in Premarket Trading

Tiger Newspress2022-05-11

SoFi Stock Climbed 2.5% in Premarket Trading.

SoFi Technologies Inc. topped expectations with its latest results Tuesday but delivered a mixed forecast in an earnings report that came out several hours before it was officially expected.The financial services and loans company posted a net loss of $110.4 million, or 14 cents a share, compared with a loss of $177.6 million, or $1.61 a share, in the year-prior period. Analysts tracked by FactSet were expecting 13 cents a share in net earnings.

The company also logged adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $8.7 million, up from $4.1 million a year before, whereas analysts were modeling $5 million.

SoFi's total revenue climbed to $330.3 million from $196.0 million. The FactSet consensus was for $282 million.

"These strong results, which we achieved despite volatile markets and the changing political, fiscal and economic landscape, demonstrate how our strategy of building a full suite of differentiated products and services has created a uniquely diversified business that can not only endure, but outperform across market cycles," Chief Executive Anthony Noto said in a release.

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Comments

Bspn
2022-05-11
Bspn
Ok
Chengkk
2022-05-11
Chengkk
Glad to hear that
Elsa Heng
2022-05-11
Elsa Heng
[Cool]
Melvin888
2022-05-11
Melvin888
Ok

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