SoFi Technologies, Inc. (SOFI) offers digital financial services and operates through the three broad segments of Lending; Technology Platform; and Financial Services. The company provides student loans, personal loans for debt consolidation and home improvement projects, and home loans.
SOFI announced a second-quarter total net revenue of $362.53 million, up 57% year-over-year, which buoyed its stock. This topped the $344 million consensus estimate. The company reported a net loss of $95.84 million or 12 cents a share on a GAAP basis, narrowing its losses. FactSet analysts were expecting a 14 cents loss per share for the quarter. The company’s net loss and loss per share were $165.31 million and $0.48 in the prior-year quarter.
