Latest News

SoFi Stock Tumbles as Earnings Published Ahead of Schedule

Text size


SoFi Technologies

stock was sinking after Bloomberg released the fintech company’s earnings, which weren’t supposed to arrive until after the close, early.

According to the Bloomberg article, SoFi reported a loss of 14 cents a share, meeting analyst forecasts, on sales of $321.7 million, ahead of estimates for $284.9 million.

Unfortunately for SoFi shareholders, SoFi now expects second-quarter adjusted revenue between $330 million and $340 million, below estimates for $343.9 million, and forecast earnings before interest, taxes, amortization, and depreciation of $$100 million to $105 million, below estimates for $119 million.

SoFi had not responded to a request for comment about the accuracy of the numbers at the time of publication, but its stock had fallen 18% to $4.8677 before it was halted for news. Its stock has fallen 69% in 2022, far worse than the S&P 500’s 17% decline and the Dow Jones Industrial Average’s 12% fall.

Write to Ben Levisohn at

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News