SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs (2024)

FAQs

What is the revenue growth of SoFi Technologies? ›

Technology Platform segment net revenue of $94.4 million for the first quarter of 2024 increased 21% year-over-year, versus 13% reported last quarter, inline with our guidance for accelerating growth. Contribution profit of $30.7 million for the first quarter of 2024 increased 107% year-over-year, for a margin of 33%.

The stock is off more than 10% in Monday morning action, after the company beat expectations with its latest financials but came up shy with its second-quarter forecast. This would be the stock's steepest post-earnings decline in a year if losses hold; SoFi shares have gained following each of the prior three reports.

SoFi Technologies is forecast to grow earnings and revenue by 52.2% and 13.1% per annum respectively. EPS is expected to grow by 55.8% per annum. Return on equity is forecast to be 7.7% in 3 years.

SOFI Financial Forecast

Next quarter's earnings estimate for SOFI is <$0.01 with a range of -$0.01 to $0.02. The previous quarter's EPS was $0.02. SOFI beat its EPS estimate 75.00% of the time in the past 12 months, while its overall industry beat the EPS estimate 60.87% of the time in the same period.

Investment risk

SoFi has liabilities of $24.5 billion, of which $8 billion are deposits from clients. While the total assets are $30 billion, the equity comes to $5 billion, and that already includes a cash position of $3 billion as of the end of 2023 for some financial cushion.

SoFi is a different kind of finance company whose goal is to help people get their money right. Our products are built around our members—so that they have the tools they need to take control of their financial futures.

Sofi Technologies gave lower-than-expected current quarter guidance as it sees 2024 as a "transitional year." The fintech firm will rely more on profits from its Tech and Financial Services platforms and less on lending. The news offset solid profit and sales in the first quarter, and a higher full-year outlook.

SoFi rides surge in home-loan originations to a profit beat, but its stock falls. SoFi Technologies Inc. on Monday reported a profit beat for the latest quarter while boosting its full-year outlook, but shares were falling after the company came up short with its outlook for the current quarter.

Cons No branches: As an online-only bank, SoFi doesn't provide in-person banking access. No out-of-network ATM reimbursem*nts: Unlike some online banks, SoFi doesn't reimburse ATM fees for out-of-network ATMs.

EPS growth shows how rapidly a company has been able to boost its "bottom line" on a per-share basis. Growth investors might look for companies with EPS growth of, say, 20% or more.

Is high EPS growth good? ›

In general, higher EPS is better but one has to consider the number of shares outstanding, the potential for share dilution, and earnings trends over time. If a company misses or beats analysts' consensus expectations for EPS, its shares can either crash or rally, respectively.

Simply divide a company's net income by its number of shares outstanding. But to find top growth stocks, seek outstanding profit performance. Specifially, stocks with EPS growth rates of at least 25% compared with year-ago levels suggest a company has products or services in strong demand.

Earnings forecasts are based on analysts' expectations of company growth and profitability. To predict earnings, most analysts build financial models that estimate prospective revenues and costs.

We invest in carefully crafted ETFs to reduce risk. SoFi Invest provides you complimentary access to our financial advisors. When the markets fluctuate and change, we will rebalance your portfolio to align with your investment goals.

SOFI IV Percentile Rank

SOFI implied volatility (IV) is 43.9, which is in the 2% percentile rank.

SoFi Technologies Reports Q1 2024 Net Revenue of $645 Million and Net Income of $88 Million, Marking Second Consecutive Quarter of GAAP Profitability.

This was primarily the result of SoFi's improving funding structure, with deposits now making up 82.4% of total funding, up from 61.2% last year. On the other hand, SoFi's average loan balances increased 56.8% from last year to $23.5 billion, though the sequential growth rate was much lower at 5.4%.

SoFi Technologies has the Financial Strength Rank of 4.

The debt burden that the company has as measured by its Interest Coverage (current year).

SoFi Technologies, Inc. stock forecast for 2025: $ 8.08 (14.07%)