Why SoFi Technologies Shares Are Jumping Today
Portfolio Pulse from Lekha Gupta
SoFi Technologies Inc reported a Q2 2023 adjusted revenue increase of 37% Y/Y to $488.8 million, beating the consensus of $478.6 million. The company added nearly 584,000 new members in Q2, bringing its total member count to around 6.2 million. Adjusted EBITDA rose significantly to $76.8 million. The company raised its outlook for 2023 and expects adjusted net revenue of $1.974 billion-$2.034 billion. SOFI shares are trading higher by 9.8% at $10.49 premarket.
July 31, 2023 | 1:08 pm
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SoFi Technologies reported strong Q2 2023 results and raised its 2023 outlook, leading to a premarket increase in its share price.
SoFi Technologies reported a Q2 2023 adjusted revenue increase of 37% Y/Y, beating the consensus. The company also added nearly 584,000 new members in Q2 and raised its outlook for 2023. These positive results and outlook have led to an increase in the company's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100