SoFi Technologies Second Quarter 2024 Earnings: Beats Expectations

SoFi Technologies (NASDAQ:SOFI) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$587.0m (up 21% from 2Q 2023).
• Net income: US$7.95m (up from US$57.6m loss in 2Q 2023).
• Profit margin: 1.4% (up from net loss in 2Q 2023).
• EPS: US$0.008 (up from US$0.062 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

SoFi Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 139%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in the US.

Performance of the American Consumer Finance industry.

The company's shares are up 3.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for SoFi Technologies that you should be aware of.

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