SoFi Technologies, Inc. has reported its first-ever quarterly profit, marking a significant milestone for the fintech company as it moves closer to its CEO's goal of becoming a top 10 financial institution. The earnings, released on Monday, exceeded expectations with a surge in loan volumes contributing to the company's success. The stock experienced a pre-market rally, with shares climbing by as much as 15% before the market opened and closing up 12% for the day. Despite a strong fourth quarter, with $572M in revenues, SoFi's guidance was considered weak, yet investor sentiment remained positive. In addition to profitability, SoFi reported a 44% increase in members to 7.5 million, a 41% increase in products to 11.1 million, and an 18% quarter-over-quarter increase in deposits to $18.6 billion. The company's revenue grew by 35% year-over-year to $615 million, which included a $23 million beat, and its adjusted EBITDA was $181 million, reflecting a 30% margin and a 15 percentage point increase year-over-year. However, the non-GAAP EPS was a $0.02 miss. For FY24, SoFi projects an adjusted EBITDA of approximately $585 million.
$SOFI EBITDA just about doubled in Q4....
#FirstGlance: $SOFI lost about the same amount on more revenue in '23 vs '22. Still presents financials like a tech firm instead of a bank....
$SMCI getting dumped. Where is the ER fomo? $nvda $amd
$SMCI pre-earnings preview. $496-$497 is a key area. https://t.co/ORks35pIn6
$SOFI SoFi Q4 FY23: • Members +44% to 7.5M. • Products +41% to 11.1M. • Deposits +$18% Q/Q to $18.6B. • Revenue +35% Y/Y to $615M ($23M beat). • Adj. EBITDA $181M (30% margin, +15pp Y/Y). • Non-GAAP EPS -$0.02 ($0.02 miss). FY24 Adj. EBITDA Outlook ~$585M. https://t.co/eKg7R2Ka8d
$SOFI is now up more than 20% on the day https://t.co/flp5C1IItb https://t.co/kpJVdSizIj
$SOFI bulls watching the stock rip after posting their first ever quarterly profits https://t.co/wVaO7zDsy1
$SOFI looking great today Plan to sell covered calls on this for 3-4 weeks out if we see $9.5-$10 coming soon https://t.co/5KXB9v0w1m
$SMCI making a run at all time high and $500. Earnings after the bell but they did pre announcement positively.
$SMCI What’s scary about this little AI name is the market cap is “only” at 26B. All the other major AI names in AVGO, AMD, NVDA are all trading at dbl digit P/S ratios but SMCI is at only 3.5. Earnings in after hrs today. I was looking for a 10% correction, gave us 5% last…
$SOFI Great earnings today. Back to 9 almost. Was all you can eat at 7.50’s (again). https://t.co/aXyQyo3RMr
SoFi posts first-ever profit with earnings that top estimates https://t.co/OodaoAi4ta via @business
$SOFI. Monster 👿 open. 15% pre market. https://t.co/WiZdmySeDo
$SOFI strong Q4, but guidance was weak, still the stock goes up 12% - most earnings are lotto
SoFi Technologies reaches profitability for the first time, taking the fintech one step closer to its CEO's goal of turning the former anti-bank into a top 10 financial institution https://t.co/v8CN5nEF4N
SoFi’s stock rockets as earnings blow past expectations on surging loan volumes https://t.co/wjREMhu9Br
Tremendous rally in OrderFlow stock SOFI. Up 10% pre market. Given at 7.
$SOFI SoFi Stock: All Eyes on Earnings Today — Here’s What J.P. Morgan Expects https://t.co/OGVK9jjsuu
SoFi Earnings Are Monday. Investors Are Hoping for First Quarterly Profit. $572M in revenues https://t.co/15usozFP1H
SoFi Earnings Are Monday. Investors Are Hoping for Its First Quarterly Profit. https://t.co/xVJrPSgUZs