SoFi Technologies (NASDAQ: SOFI) stock has been in a slump this year. It hasn't managed to wow investors despite a strong performance, and it's lost a good chunk of its 2023 gains, which topped 100%.

The fintech superstar cranked out another fabulous report for the second quarter. Is it finally time to buy?

SoFi delivered solid results for the 2024 Q2, beating internal guidance across the board and Wall Street's expectations. Adjusted revenue increased 22% year over year to a record $597 million, and net income was $17 million. It added 643,000 new members for a total of 8.8 million and almost 100,000 new products for a total of 12.8 million. Earnings per share (EPS) were $0.01, and analysts were expecting just over $0. Not only was the company profitable on a consolidated basis, but all three segments were profitable on a contribution basis as well.

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Source Fool.com