SOFI

SoFi Technologies Shares Rally As Quarterly Results Beat View

(RTTNews) - Shares of financial services firm, SoFi Technologies, Inc. (SOFI) are surging more than 20% Monday morning after reporting upbeat quarterly results above the Street view.

The company reported a profit of $24.62 million or $0.02 per share for the fourth quarter, compared with a loss of $50.2 million or $0.05 per share a year ago. Analysts on average, polled by Thomson-Reuters expected the company to report breakeven per share.

Revenue for the quarter grew 35% to $615.4 million from $456.68 million a year ago. The consensus estimate was for $571.7 million.

Net interest income increased 87% year-on-year to $389.64 million.

SOFI, currently at $9.19, has traded in the range of $4.45 - $11.70 in the last 1 year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.