Shares of SoFi Technologies (NASDAQ: SOFI) edged higher in intraday trading on Tuesday following a stronger-than-expected first-quarter earnings report and an upward revision of its full-year guidance.
The company reported adjusted earnings per share (EPS) of $0.06, surpassing analyst expectations of $0.04. Revenue for the quarter came in at $771.8 million, beating estimates of $740.3 million and marking a 33% year-over-year growth.
SoFi also saw record growth in its membership base, adding 800,000 new members in Q1. The total number of members now stands at 10.9 million, up 34% year-over-year. The total number of products increased by 35% to 15.9 million.
CEO Anthony Noto stated that the company has had a strong start to 2025, reporting its highest revenue growth rate in five quarters. This growth was driven by record-breaking numbers in membership, product offerings, and fee-based revenue.
Breaking down the segments, SoFi’s lending business saw net revenue rise 25% to $413.4 million. The financial services segment more than doubled its revenue, reaching $303.1 million. Meanwhile, the technology platform segment grew by 10% to $103.4 million.
In light of its strong performance, SoFi has raised its full-year 2025 revenue guidance to between $3.235 and $3.31 billion, an increase from the previous estimate of $3.2 to $3.275 billion. The revised outlook also beats analyst estimates of $3.191 billion.
In addition, the company expects adjusted EBITDA for the year to range between $875 million and $895 million, an increase from its prior forecast of $845 million to $865 million.
Several analysts have weighed in on SoFi following the results. Goldman Sachs maintained a Neutral rating with a price target of $9.50, while BofA Securities analyst Mihir Bhatia reiterated an Underperform rating with a $13.00 price target.
As of the latest update, SoFi Technologies (NASDAQ: SOFI) shares are up 0.57%, trading at $13.28.
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies. Read Full Bio
