Here's How SoFi Bounced Back With a Great Third Quarter
After what many investors deemed to be a disappointing second quarter, SoFi Technologies (NASDAQ: SOFI), a one-stop-shop financial services company for high-income earners, got back on track in the third quarter.
The company last week reported a net loss of $0.05 earnings per share on total revenue that surged to $272 million. Both numbers beat analyst estimates and management raised guidance for the full year, now expecting to generate more than $1 billion of revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) as high as $31 million. The big story in the quarter for me was SoFi's lending division, which generated stellar results as SoFi continues to increase cross-selling volume among its nearly 3 million members.
Image source: Getty Images.
Source Fool.com
