SOFI - SoFi CEO Clears Up 'Misperception' About Student Loans Says Lender Has Competitive Advantages Driving Growth | Benzinga
SoFi Technologies Inc (NASDAQ: SOFI) reported better-than-expected financial results on Monday. Following the company's quarterly results, CEO Anthony Noto highlighted strength across the company's business and cleared up a "misperception" about student loan growth.
What Happened: SoFi beat estimates on both the top and bottom line when it reported third-quarter financial results on Monday. Sales came in at $530.72 million and the company beat expectations for a loss of 7 cents per share, reporting a loss of 3 cents per share.
SoFi also raised its full-year outlook. The company previously guided for full-year adjusted net revenue of $1.974 billion to $2.034 billion, but raised the anticipated range to $2.045 billion to $2.065 billion on Monday.
Why It Matters: Monday morning on CNBC's "Squawk On The Street," Noto called out a "misperception" that student loans were a big driver of the company's quarterly ...