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Will SoFi Technologies' stock price increase by over 10% by the end of Q4 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
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Story
SoFi Technologies Reports Strong Q3 Earnings, Raises FY24 Guidance; Shares Rose 5.5%
Oct 29, 2024, 11:06 AM
SoFi Technologies reported strong Q3 2024 earnings, with sales of $697 million, surpassing estimates of $632 million. The company achieved an EPS of $0.05, beating the expected $0.04. GAAP net income reached $61 million, exceeding the forecasted $39 million. Adjusted net revenue was $689.4 million, up 30% year-over-year, while adjusted EBITDA stood at $186.2 million, a 90% increase year-over-year. SoFi added 756,000 new members, bringing the total to 9.37 million, a 35% increase from the previous year. Following these results, SoFi raised its FY24 guidance for revenue and core earnings, and shares rose by 5.5% in premarket trading.
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