Copyright Investor's Business Daily
SoFi Technologies (SOFI) on Tuesday reported third quarter earnings and revenue that topped Wall Street targets. Sofi stock rose, signaling a new high amid high expectations for the quarter. The financial technology company reported earnings before the market open. In the September quarter, San Francisco-based SoFi said it earned 11 cents with net adjusted revenue up 38% to $961 million. Analysts had predicted earnings of 8 cents on revenue of $889 million. A year earlier the company had a 5-cent profit using generally accepted accounting principles, or GAAP. SoFi added a record 905,000 members in the quarter. With the gain, membership reached 12.6 million. Sofi Stock Rises On the stock market today, SoFi stock gained 3% to near 31. That's on track to top a short consolidation's buy point at 30.30 and set a new record high. Heading into the SoFi earnings report, shares had advanced 112% in 2025. Product Expansion Founded in 2011, the financial services company was initially known for its student loan refinancing business. But now the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services and financial planning. SoFi also holds a banking license. It's expanding into new areas, such as offering investors access to more private market funds. Also, SoFi recently launched a co-branded debit card program. Sofi's loan platform business was a Q3 bright spot. In addition to originating loans for their own book, SoFi originates them for partners who purchase them. SoFi stock owns a Composite Rating of 99 out of a best-possible 99. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better. Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing. YOU MAY ALSO LIKE: Is Your Broker Turning Into Your Bookie? Robinhood, DraftKings And More Face Off In Prediction Markets Boom Want To Trade Options? Try Out These Strategies Monitor IBD's "Breaking Out Today" List For Companies Hitting New Buy Points IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today
