SOFI - Why Is SoFi Technologies Stock Shooting Upwards Monday? | Benzinga
SoFi Technologies Inc (NASDAQ:SOFI) shares are trading higher after the company reported better-than-expected fiscal fourth-quarter 2023 results.
Adjusted revenue increased 34% year-on-year to $594.25 million, beating the consensus of $571.70 million. The adjusted EPS of $0.02 beat the consensus of $0.00.
SoFi added 585,000 new members in the quarter, bringing its total member count to over 7.5 million (+44% Y/Y).
SoFi also added 695,000 new products in the quarter, with a total count of over 11.1 million total products (+41% Y/Y) at the end of the quarter.
In the Financial Services segment, total products rose by 45% Y/Y to 9.5 million.
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