SoFi Shares Rise on Strong Q3 Results and Forecast
SoFi Technologies shares climbed after the fintech beat third-quarter estimates and raised its annual revenue forecast. Strong customer demand drove record revenue and membership growth.
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SoFi Technologies shares rose 9% in Tuesday morning trading after the fintech posted a record third-quarter revenue of $1.4B and raised its full-year forecast. The company outperformed Wall Street estimates of $1.25B as resilient borrowers sustained credit demand despite elevated interest rates. The strong performance highlights the growing traction of digital-first platforms over traditional banking institutions.
