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What's Going On With SoFi Stock After Earnings?
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading higher Wednesday after the company on Tuesday posted strong second-quarter results on Tuesday.
The Details:
SoFi reported earnings of 1 cent per share, inline with the consensus estimate, and quarterly sales of $599 million beat the Street's estimate for the second quarter.
SoFi's revenue increased 22.54% year-over-year, and total members rose 41% from the prior year period.
“We had an exceptional second quarter. Our relentless focus on product innovation and member growth across our portfolio of businesses not only drove strong results today, but we expect that they’ll fuel financial growth for years to come. Our one-stop shop strategy continues to deliver strong, diversified growth and profitability, despite macroeconomic volatility,” commented Anthony Noto, CEO of SoFi Technologies.
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