Despite Headwinds, SoFi's Q3 Earnings Were Impressive Across the Board

Many traditional banks lack the broad suite of services (and the velocity) that people demand in a digitally connected world. As a result, the financial services industry is becoming more fragmented, allowing new players to emerge and win market-share from incumbent financial institutions. Until now, I think that SoFi (NASDAQ: SOFI) has been overlooked as a potential disruptor. The company's recent Q3 earnings report illustrates that it is on a mission to revolutionize the banking industry.

Leading up to Q3 earnings, SoFi was given three "buy" or buy-equivalent ratings from equity research analysts. As a result, SoFi's stock price increased nearly 60% from when the research reports were issued in September to Q3 earnings in early November. Was the run-up validated? Let's dig into the results and find out.

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