SoFi Technologies Stock Sinks on Soft Guidance

Shares of SoFi Technologies (SOFI) plunged 10% Monday arsenic nan integer financial firm gave lower-than-expected guidance based connected "macro assumptions" astir nan future.

The supplier of student loans and different banking services expects current-quarter earnings per stock (EPS) of $0.03, and 2025 EPS betwixt $0.25 and $0.27. Analysts surveyed by Visible Alpha were looking for first-quarter EPS of $0.05 and full-year EPS of $0.28.

The news offset better-than-expected fourth-quarter results. SoFi reported EPS of $0.29, pinch gross rising 19% year-over-year to $734 million. Both comfortably exceeded Visible Alpha forecasts. 

Revenue astatine nan Financial Services portion skyrocketed 84% to $256.5 million, arsenic nan institution expanded its merchandise offerings by 34%. Technology Platform section gross added 6% to $102.8 million, while gross astatine nan Lending conception grew 18% to $417.8 million, arsenic origination gross accrued 66%.

CEO Anthony Noto called 2024 "SoFi's champion twelvemonth ever," and pointed to nan capacity of nan Financial Services and Tech Platform segments, which made up a grounds 49% of nan company's revenue.

SoFi Technologies shares vanished past week astatine their highest level since nan autumn of 2021. Despite today's drop, they person much than doubled their worth successful nan past year.