2024-04-29 10:00:10 ET
Summary
- SoFi Technologies, Inc.'s earnings sheet for Q1 '24 showed impressive net account additions, with more than 600k new members added to its platform.
- SoFi exceeded expectations with its Q1 earnings.
- The Fintech raised its adjusted EBITDA outlook for FY 2024 due to a strong resurgence in the student loan origination business.
- SoFi Technologies, Inc. continues to have an attractive risk profile for long-term growth investors.
SoFi Technologies, Inc. ( SOFI ) reported results for its first fiscal quarter of 2024 which were generally good. Yet shares are down pre-market approximately 6% which, I believe, is not rational considering the strength of SoFi's customer growth. Investors may have expected even stronger guidance for FY 2024 revenues, but the sell-off is inexplicable to me, given that SoFi beat expectations....
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SoFi Q1 Results: Strike While The Iron Is Hot