SoFi Shares Drop 8% as Unchanged 2026 Revenue Forecast Overshadows Record Q1 Results
Summary
SoFi Technologies reported strong first-quarter results, with profit doubling to 12 cents per share and adjusted revenue rising 41% to a record $1.1 billion, driven by record loan originations and member growth. However, the company maintained its full-year 2026 revenue forecast of approximately $4.66 billion and profit guidance of 60 cents per share. This unchanged outlook, despite the robust Q1 performance, has overshadowed the positive results, leading to an 8% decline in shares pre-market. The market appears to be reacting negatively to the cautious guidance amidst persistent macro uncertainty, indicating that strong Q1 performance was not enough to prompt an upward revision to future expectations. Traders will be watching for further commentary on macro conditions and any potential future adjustments to guidance.
At the time of this announcement, SOFI was trading at $16.68 on NASDAQ in the Finance sector, with a market capitalization of approximately $23.4B. The 52-week trading range was $12.05 to $32.73. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.