SoFi's stock dropped nearly 9% to $15.25 after the fintech giant reported its second-quarter earnings. The company posted total net revenue of $1.2 billion, rising 43% from last year and beating analyst estimates. Adjusted EBITDA grew 44% to nearly $358 million, while earnings per share reached $0.12, slightly surpassing expectations.
Loan originations hit a record-breaking $14.8 billion, spanning personal, student, and home loans, marking solid growth across its lending business. CEO Anthony Noto highlighted that despite ongoing market uncertainty, SoFi’s business model continues to demonstrate resilience through stronger user engagement across its financial platform.
Profit Guidance Holds Steady, Rattling Investors
Even with revenue guidance for full-year 2026 lifted to between $4.75 and $4.85 billion a range well above analyst projections SoFi kept its adjusted EBITDA forecast steady at around $1.6 billion and maintained earnings guidance at $0.60 per share. This gap between boosted sales expectations and flat profit forecasts suggested the company plans to funnel additional revenue into expanding marketing efforts, technology upgrades, and product development, rather than boosting immediate profitability.
The market reacted unfavorably to the unchanged profit outlook, sending shares below $16 before a partial recovery. Adding to investor concerns was a 23% decline in Technology Platform revenue compared to last year, impacted by the loss of a major institutional client. Also in focus was a planned Rule 10b5-1 stock sale by Executive Vice President Kelli Keough. These factors, combined with broader valuation caution, pressured the stock despite solid top-line performance.
