SoFi Beats Q2 Expectations, Raises Guidance

SoFi Technologies announced robust second-quarter results, exceeding financial expectations and demonstrating business model durability. The company reported adjusted earnings of 12 cents per share, topping consensus estimates, and generated $1.206 billion in sales, also surpassing analyst forecasts.

Key highlights included a record adjusted net revenue of $1.2 billion, marking a 40% increase from the prior year, and a record net income of $157 million. Member growth was substantial, with 1.1 million new members added, bringing the total to 15.8 million, a 35% year-over-year rise. Total products also saw a significant increase of 42%, reaching 24.4 million.

Looking ahead, SoFi's management has revised its full-year 2026 sales guidance upwards to a range of $4.75 billion to $4.85 billion, exceeding previous consensus estimates. The company reaffirmed its full-year adjusted earnings per share guidance of 60 cents. Despite these positive financial results, SoFi Technologies shares experienced a slight decline in premarket trading on Wednesday morning.