SoFi earnings preview: Personal lending drives growth amid student and home loan headwinds
• SoFi Technologies Inc. (SOFI) is a neobanking company that offers various personal finance products and services.
• The company will report its first-quarter earnings on Monday, May 1, before the market opens.
• Analysts expect SoFi to report a loss of 8 cents per share on adjusted revenue of $441 million, up from a loss of 14 cents per share on revenue of $322 million a year ago.
• SoFi’s growth has been driven by its personal lending business, which has offset the decline in its student and home lending segments due to the student-loan moratorium and rising mortgage rates.
• SoFi has also benefited from its banking charter, which allows it to offer lower-cost funding and more attractive products to its customers.
• SoFi’s stock has gained 35% year-to-date, outperforming the S&P 500 index.
Received message. Here is a summary of the article: - SoFi Technologies Inc. (SOFI) is a neobanking company that offers various personal finance products and services. - The company will report its first-quarter earnings on Monday, May 1, before the market opens. - Analysts expect SoFi to report a loss of 8 cents per share on adjusted revenue of $441 million, up from a loss of 14 cents per share on revenue of $322 million a year ago. - SoFi's growth has been driven by its personal lending business, which has offset the decline in its student and home lending segments due to the student-loan moratorium and rising mortgage rates. - SoFi has also benefited from its banking charter, which allows it to offer lower-cost funding and more attractive products to its customers. - SoFi's stock has gained 35% year-to-date, outperforming the S&P 500 index.
• The company will report its first-quarter earnings on Monday, May 1, before the market opens.
• Analysts expect SoFi to report a loss of 8 cents per share on adjusted revenue of $441 million, up from a loss of 14 cents per share on revenue of $322 million a year ago.
• SoFi’s growth has been driven by its personal lending business, which has offset the decline in its student and home lending segments due to the student-loan moratorium and rising mortgage rates.
• SoFi has also benefited from its banking charter, which allows it to offer lower-cost funding and more attractive products to its customers.
• SoFi’s stock has gained 35% year-to-date, outperforming the S&P 500 index.
Received message. Here is a summary of the article: - SoFi Technologies Inc. (SOFI) is a neobanking company that offers various personal finance products and services. - The company will report its first-quarter earnings on Monday, May 1, before the market opens. - Analysts expect SoFi to report a loss of 8 cents per share on adjusted revenue of $441 million, up from a loss of 14 cents per share on revenue of $322 million a year ago. - SoFi's growth has been driven by its personal lending business, which has offset the decline in its student and home lending segments due to the student-loan moratorium and rising mortgage rates. - SoFi has also benefited from its banking charter, which allows it to offer lower-cost funding and more attractive products to its customers. - SoFi's stock has gained 35% year-to-date, outperforming the S&P 500 index.
- AltCtrlMoo
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