SoFi Technologies (SOFI) Tops Q3 EPS by 5c, updates guidance

SoFi Technologies (NASDAQ: SOFI) reported Q3 EPS of ($0.03), $0.05 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $537 million versus the consensus estimate of $511.13 million.

Guidance and Outlook

For the full year 2023, management expects adjusted net revenue of $2.045 to $2.065 billion, up from its prior guidance of $1.974 to $2.034 billion, and full-year adjusted EBITDA of $386 to $396 million, up from its prior guidance of $333 to $343 million, representing a 48% incremental adjusted EBITDA margin and a range of 18.9% to 19.2% adjusted EBITDA margin. As the company moves toward expected GAAP net income profitability in the fourth quarter, management expects depreciation and amortization and share-based compensation expenses to increase in the mid-to-high single digit percentage range in the fourth quarter relative to third quarter results.

For earnings history and earnings-related data on SoFi Technologies (SOFI) click here.

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