SoFi shares dropped 8% in premarket trading on Wednesday after the company issued unchanged full-year revenue guidance, disappointing investors following a record first quarter.
The company reaffirmed its 2026 revenue target of $4.66 billion and earnings of 60 cents per share, matching Wall Street’s expectations. This cautious guidance followed a record first-quarter adjusted revenue of $1.1 billion, up 41% from last year, and reflects management’s response to economic uncertainty, high oil prices from Middle East tensions, and ongoing high interest rates.
SoFi’s first-quarter results were strong. Total loan originations reached $12.2 billion, driven by growth in personal, student, and home loans. Net interest income rose 39% to $693 million, and fee-based revenues increased 23% to $386.8 million. Earnings per share doubled to 12 cents. Membership grew 35% to 14.7 million, highlighting SoFi’s progress in competing with traditional banks.
CEO Anthony Noto said consumer credit remains healthy, citing record first-quarter loan growth and continued strong demand for the second quarter. Point-of-sale debit spending and credit performance met expectations.
SoFi is taking on traditional financial institutions, which Noto said are held back by outdated and fragmented technology. The company’s mobile-first approach, offering personal loans, credit cards, IPO investing, and savings, appeals to younger, digital-focused consumers. Fintech platforms are targeting this group as traditional banks fall behind in modernization.
Featured CoursesRecent news
ServiceNow and Software Stocks Lead Sector Recovery on AI Hopes
Software stocks are making a comeback. ServiceNow jumped 8.8% on Monday, marking its largest one-day gain in over a year. This surge followed BofA Securities reinstating coverage with a Buy rating, which helped restore investor confidence in a sector that faced pressure in 2026 over concerns that AI might replace, not support, enterprise software. Here’s […]
GE Aerospace Stock Rises as AI Cuts Hypersonic Engine Design Time
GE Aerospace is showing investors what artificial intelligence looks like when applied to one of the world’s most technically demanding industries. Shares rose 1.58% Tuesday as the company revealed that researchers at its Niskayuna, New York, facility used an in-house generative AI tool to produce a preliminary hypersonic ramjet engine design, compressing a process that […]
Nvidia Shares Slip 1.1%: Why a 3-Day Losing Streak Could Be Good News
Nvidia is heading into its most anticipated earnings report of the year on the back foot, and that may be exactly what the stock needs. Shares fell 1.1% in premarket trading Tuesday, extending a three-day pullback from last Thursday’s closing high of $235.74. For investors watching closely, a lower entry point ahead of Wednesday’s results […]
Trade with fewer limits
Day trade with fewer limits at fast speed. Buy stocks and ETFs at low fees.