Summary by Moomoo AI
SoFi Technologies, Inc. reported a significant year-over-year improvement in financial performance for the quarter ended September 30, 2024. The company's reportable segments total contribution profit saw a substantial increase to $371.6 million from $239.4 million in the same period last year. Despite a net loss in the Corporate/Other segment, the overall income before taxes turned positive at $63.9 million, a stark contrast to the loss of $266.9 million in the previous year. The company's lending segment demonstrated robust growth with a 23% increase in origination volume, driven by strong demand for personal and home loans. The Technology Platform segment also showed positive trends with a 17% increase in total enabled client accounts. SoFi's Financial Services segment achieved a milestone with a significant...Show More
