SoFi stock gains after company gives upbeat 2023 earnings forecast

Shares of SoFi Technologies Inc.

were rising 7% in premarket trading Monday after the digital financial services company delivered an upbeat earnings forecast for the full year ahead. The company posted a fourth-quarter net loss of $40.0 million, or 5 cents a share, compared with a loss of $111 million, or 15 cents a share, in the year-earlier period. Analysts tracked by FactSet were expecting a 9-cent per-share loss. On an adjusted basis, SoFi reported earnings before interest, taxes, depreciation, and amortization of $70.

were rising 7% in premarket trading Monday after the digital financial services company delivered an upbeat earnings forecast for the full year ahead. The company posted a fourth-quarter net loss of $40.0 million, or 5 cents a share, compared with a loss of $111 million, or 15 cents a share, in the year-earlier period. Analysts tracked by FactSet were expecting a 9-cent per-share loss. On an adjusted basis, SoFi reported earnings before interest, taxes, depreciation, and amortization of $70.

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Source: Cointelegraph - 🏆 562. / 51 Read more »