SoFi Beats Q3 Estimates and Raises 2026 Revenue Forecast

SoFi Technologies reported third-quarter revenue of $1.39 billion and adjusted earnings of 18 cents per share, beating analyst estimates, and raised its revenue forecast for 2026. The company also said it added a record 1.2 million members during the quarter, bringing its total to 17.1 million. Revenue increased 44% from a year earlier, while adjusted net income rose 74% to $243 million. The 18-cent adjusted profit per share exceeded analyst estimates reported at 16 cents and 17 cents in different forecasts. Revenue also topped estimates of $1.25 billion. SoFi raised its 2026 adjusted revenue forecast to $5.04 billion, above the $4.87 billion analysts had expected, and projected $6.4 billion in revenue for 2027. The company maintained its 2026 adjusted earnings-per-share forecast at 61 cents, according to one report. SoFi also projected roughly 27% revenue growth in 2027. The company added 2.2 million products in the quarter, taking the total to 26.7 million, up 44% year over year. Existing members opened 51% of new products. Membership grew 35% from a year earlier, and management said it continued to expect total members to increase by at least 30% year over year. SoFi’s...