MW SoFi's stock sinks as profitability outlook falls short
By Emily Bary
Guidance for Q1 adjusted Ebitda was below expectations, but the adjusted revenue guidance was above
SoFi Technologies Inc. provided mixed first-quarter guidance, with profitability expected to be below Wall Street forecasts but revenue above - and that's sending the stock sinking more than 9% in early Monday trading.
The financial-technology company (SOFI) expects $725 million to $745 million in adjusted net revenue for the first quarter. Analysts were modeling $688 million. SoFi is also targeting $175 million to $185 million in adjusted earnings before interest, taxes, depreciation and amortization, while the FactSet consensus was for $192 million.
For the fourth quarter, adjusted net revenue, which excludes nonrecurring items, of $739.1 million rose 24.4% from a year ago, and was well above the FactSet consensus of $675 million. Net revenue for the period rose 19.3% to $734.1 million.
This is a breaking story. Check back for updates.
-Emily Bary
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January 27, 2025 07:11 ET (12:11 GMT)
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