SoFi CEO Says 2024 Was ‘Best Year Ever.’ Why the Stock Is Sinking After Earnings.
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SoFi Technologies reported quarterly earnings and revenue above analysts’ estimates, and CEO Anthony Noto described 2024 as the fintech’s “best year ever.” For its first quarter, SoFi forecast adjusted net revenue between $725 million and $745 million and earnings of 3 cents per share, while Wall Street had penciled in revenue of $688 million and earnings of 5 cents. For fiscal 2025, the company expects adjusted net revenue between $3.2 billion and $3.275 billion and earnings per share between 25 cents and 27 cents.