{"id":43060,"date":"2023-08-01T10:54:47","date_gmt":"2023-08-01T14:54:47","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/sofi-stock-gains-after-boosting-full-year-revenue-forecast\/"},"modified":"2023-08-01T10:54:48","modified_gmt":"2023-08-01T14:54:48","slug":"sofi-stock-gains-after-boosting-full-year-revenue-forecast","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43060","title":{"rendered":"SoFi stock gains after boosting full-year revenue forecast"},"content":{"rendered":"
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\u00a9 Reuters. SoFi (SOFI) stock gains after boosting full-year revenue forecast<\/span>
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SoFi Technologies (NASDAQ:) shares are seen trading higher in early Monday trading after the digital lender reported better-than-expected second-quarter results and hiked its full-year revenue projection.<\/p>\n

Shares are up 4.3% in premarket Monday.<\/p>\n

The company a loss per share of 6 cents, just ahead of the consensus that was looking for a loss per share of 7 cents. Adjusted revenue rose 37% year-over-year to $488.8 million, ahead of the consensus of $475.9M.<\/p>\n

\u201cRecord revenue at the company level was driven by record revenue in both our Technology Platform business segment and our Financial Services business segment coupled with continued strong Lending business segment revenue growth. We also generated our fourth consecutive quarter of record adjusted EBITDA of $77 million, representing a 43% incremental adjusted EBITDA margin and a 16% margin overall, as well as a 36% incremental GAAP net income margin,\u201d said Anthony Noto, CEO of SoFi Technologies.<\/p>\n

The company said it expects to generate $1.025 billion to $1.085B of adjusted net revenue in the second half of 2023, up 19% to 26% year-over-year, and $180M-$190M of adjusted EBITDA.<\/p>\n

For the full year 2023, SoFi expects adjusted net revenue of $1.974B-$2.034B, up from its prior guidance of $1.955B-$2.02B. Full-year adjusted EBITDA is seen in the range of $333M-$343M, up from its prior guidance of $268M-$288M, representing a 40-44% incremental adjusted EBITDA margin.<\/p>\n

\u201cManagement projects that a more significant portion of the second half adjusted net revenue and adjusted EBITDA results will be generated during the fourth quarter,\u201d the company said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. SoFi (SOFI) stock gains after boosting full-year revenue forecast SoFi Technologies (NASDAQ:) shares are seen trading higher in early Monday trading after the digital lender reported better-than-expected second-quarter results and hiked its full-year revenue projection. Shares are up 4.3% in premarket Monday. The company a loss per share of 6 cents, just ahead […]<\/p>\n","protected":false},"author":1,"featured_media":6537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-43060","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nSoFi stock gains after boosting full-year revenue forecast | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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