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Benzinga

SoFi shares jump after Q2 2024 beat and raised 2026 revenue outlook to $4.85 billion

AI Market Summary
SoFi's Q2 results beat consensus on adjusted EPS and revenue, alongside record adjusted net revenue and GAAP net income. Management raised 2026 revenue guidance and reaffirmed the full-year adjusted EPS target, reinforcing confidence in operating leverage and platform-driven growth. Strong member additions and rising product penetration support the "everything app" cross-sell thesis, which can improve unit economics and sentiment across fintech-related equities in the near term.
Impact level
● Medium
Affected assets
NCSKSOFI2USD/USDT+10.04%
AI Insight · NCSKSOFI2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
SoFi Technologies reported Q2 2024 results with adjusted EPS of 12 cents and revenue of $1.206 billion, both ahead of expectations. The company raised its full-year 2026 revenue guidance to $4.85 billion from $4.75 billion and reiterated a full-year adjusted EPS target of 60 cents. Adjusted net revenue came in at $1.2 billion, up 40% year over year, while net income was $157 million. SoFi added 1.1 million net new members to reach 15.8 million, and total products rose 42% to 24.4 million, underscoring momentum in its fintech platform growth.
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