SoFi Tech 4Q Revenue Soars With Higher Fees

Dow Jones

Jan 27, 2025

By Dean Seal

SoFi Technologies notched higher revenue in the fourth quarter and expects the top line to keep rising this year with strong fee-based income, particularly from loan originations.

The financial-services company posted a profit of $332.5 million, or 29 cents a share, compared with $24.6 million, or 2 cents a share, in the same quarter a year ago.

The quarter included a significant income tax benefit that boosted the bottom line. Stripping out one-time items, adjusted earnings were 5 cents a share, a penny above the consensus estimate of analysts polled by FactSet.

Revenue jumped 19% to $734 million, and climbed 24% to $739.1 million on an adjusted basis. That topped analyst forecasts for $674.6 million in adjusted revenue.

The gain is tied to growth in SoFi's financial-services business and technology platform. Chief Executive Anthony Noto called 2024 SoFi's best year on record as it shifted toward more capital-light cash- and fee-based revenue streams.

For the year ahead, SoFi is expecting adjusted net revenue of $3.2 billion to $3.275 billion and earnings of $285 million to $305 million, or 25 cents to 27 cents a share. Analysts are currently projecting $3.02 billion in adjusted revenue for 2025.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 27, 2025 07:29 ET (12:29 GMT)

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Chief Executive Anthony Noto called 2024 SoFi's best year on record as it shifted toward more capital-light cash- and fee-based revenue streams.For the year ahead, SoFi is expecting ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"translate_title":"SoFi Tech第四季度收入因费用上涨而飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOFI":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  SoFi Technologies notched higher revenue in the fourth quarter and expects the top line to keep rising this year with strong fee-based income, particularly from loan originations. \n\n\n  The financial-services company posted a profit of $332.5 million, or 29 cents a share, compared with $24.6 million, or 2 cents a share, in the same quarter a year ago. \n\n\n  The quarter included a significant income tax benefit that boosted the bottom line. 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