* Our Parent Company Crypto Token is LIVE!!! *Flag Token

SoFi stock soars after fintech company gives upbeat earnings outlook

Date:

Share post:

Shares of SoFi Technologies Inc. were soaring 14% in after-hours trading Tuesday after the financial-technology company exceeded expectations with its earnings outlook.

SoFi
SOFI,
-2.18%

recorded a fourth-quarter net loss of $111.0 million, or 15 cents a share, whereas it recorded a net loss of $82.6 million, or $1.85 a share, in the year-earlier quarter. The FactSet consensus was for a 16-cent loss on a per-share basis.

Total revenue rose to $285.6 million from $171.5 million. Analysts tracked by FactSet were anticipating $279 million in revenue.

The company said it added a “record” of 523,000 new members during the fourth quarter. It also added 906,000 new products. Mizuho analyst Dan Dolev noted that additions on both metrics were up sequentially.

SoFi recently won approval for a national banking charter, and the company expects that incremental net interest income from its SoFi Bank will “only contribute nominally” to its results for the first quarter. SoFi expects a greater impact after it begins fully…

Read more…

Related articles

Revolutionizing Inter-Blockchain Communication – Benzinga

Revolutionizing Inter-Blockchain Communication  Benzinga Read more...

Hermès Wins Trademark Lawsuit Against MetaBirkins NFTs, Setting Powerful Precedent for NFT Creators

David Leichtman, Leichtman Law managing partner, told CoinDesk TV on Tuesday that the case wasn’t necessarily about Mason...

UK blockchain carbon offset platform raises $45M in seed funding

According to a press release published on Feb. 8, blockchain carbon credit transaction network Carbonplace has secured $45...

The war among blockchains should stop to speed up adoption – Cointelegraph

The war among blockchains should stop to speed up adoption  Cointelegraph Read more...