This Was Flat Out the Most Impressive Number in SoFi's Earnings Results
Digital bank and one-stop-shop financial services company SoFi Technologies (NASDAQ: SOFI) recently delivered a good beat on earnings for the fourth quarter. Even better, SoFi provided guidance for 2023 that was well above Wall Street's expectations, particularly for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
But there was another number in SoFi's Q4 report that was even more impressive. It was for a metric that will also be more important to watch as things shake out this year.
SoFi has three main divisions. There's the lending division, which houses almost all of its lending products, including student, personal, and home loans. Its technology division is composed of the operations it gained via its acquisitions of Technisys and Galileo. And then there is its financial services division, which includes products such as its online investment brokerage and checking and savings accounts.
Source Fool.com
