SOFI Nov 2024 13.000 call
| Previous Close | 0.2800 |
| Open | 0.4500 |
| Bid | 0.2200 |
| Ask | 0.2500 |
| Strike | 13.00 |
| Expire Date | 2024-11-15 |
| Day's Range | 0.4500 - 0.4500 |
| Contract Range | N/A |
| Volume | |
| Open Interest | 1.67k |
- Yahoo Finance Video
What SoFi's earnings reveal about the state of loans: CEO
Shares of SoFi (SOFI) are dropping as the company reported its first quarter earnings. The results included revenue of $645 million, a 37% increase year-over-year, beating estimates of $556 million. However, the results were overshadowed by SoFi's adjustment to second quarter revenue: between $555 million and $565 million, well below analyst expectations of $590 million. The better-than-expected first quarter revenue comes as the company experienced strong growth in loan originations, double-digit gains in personal and student loans, and triple-digit gains for home loans. SoFi CEO Anthony Noto joins Wealth! to give insight into where demand for loans remains strong. "We have seen really strong demand for unsecured personal loans, the term out revolving debt, with variable rates, fixed rate, and fixed term. On the home loan side of the equation, it's largely been purchase demand, not refinancing demand, given how high rates are, and then on student loan or financing, I would say the demand is well below where it would be if rates were two to 300 basis points lower," Noto explains. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
Barrons.comSoFi Stock Is Falling Again. Wall Street Is Worried.
SoFi Technologies offered plenty of positives in its first-quarter report, but it wasn’t enough for Wall Street. On the earnings call, management said it sold $62.5 million of late-stage delinquent personal loans in the first quarter and that its annualized personal loan charge-off rate—unrecoverable company-owned debt—fell to 3.45% from 4.02% in the fourth quarter, including the delinquency sale. Citi analysts Peter Christiansen and Rebecca Lu, who rate shares at Buy and have a price target of $11, believe guidance and the higher-than-expected charge-off rate dragged the stock lower.
- GuruFocus.com
SoFi Technologies Inc (SOFI) Q1 2024 Earnings Call Transcript Highlights: Robust Growth and ...
SoFi Technologies Inc reports significant revenue growth and member expansion, alongside promising financial forecasts and strategic product enhancements.
