New York, Feb 1, 2026, 05:05 ET — Market closed.
- Shares of SoFi Technologies dropped 6.36% to close at $22.81 on Friday.
- The company reported its first quarter with adjusted net revenue surpassing $1 billion, highlighting quicker gains in fee-based revenue.
- Traders enter the week focused on consumer-credit figures and shifts in rate expectations, with the U.S. jobs report slated for Friday.
Shares of SoFi Technologies (SOFI) dropped 6.36% to close Friday at $22.81. The U.S. markets will be closed Sunday.
The move came after a quarterly report revealed profit gains fueled by rising loan demand and faster expansion in fee-based segments. Anthony Noto highlighted that fee growth cushions the company against interest rate volatility. He also flagged a proposed 10% cap on credit-card interest rates, suggested by Donald Trump, as a potential disruptor for consumer lending. “I would expect a meaningful contraction in credit card lending,” Noto warned. Reuters
SoFi’s latest quarterly report showed GAAP net revenue hitting $1.03 billion for the quarter ending Dec. 31, alongside a net income of $173.5 million. The San Francisco company also posted adjusted net revenue of $1.01 billion — these adjusted numbers strip out certain items, as they’re non-GAAP measures — and an adjusted EBITDA of $318 million.
SoFi gained around 1 million new members during the quarter, pushing its total to 13.7 million. Loan originations surged 46% to an all-time high of $10.5 billion, fueled by personal, student, and home loans. The company expects first-quarter adjusted net revenue near $1.04 billion and adjusted earnings of about 12 cents per share.
SoFi forecasts adjusted net revenue of roughly $4.66 billion and adjusted EPS of $0.60 for 2026. The company is also expanding its crypto footprint, launching a SoFiUSD stablecoin—a digital token meant to maintain a stable value—and increasing options for self-directed investing, according to the report.
A recent filing with the U.S. Securities and Exchange Commission revealed SoFi submitted its earnings release via a Form 8-K on Friday. The company’s stock is listed as SOFI on the Nasdaq Global Select Market.
Slides released alongside the report showed fee-based revenue accounted for roughly 44% of adjusted net revenue this quarter. Deposits hovered around $38 billion as the firm shifted toward more bank funding. SoFi posted personal-loan net charge-offs—loans deemed uncollectible after recoveries—at 2.80%, down 57 basis points from the same period last year.
Friday saw heavy trading, with shares swinging between $22.31 and $25.47. Volume surged past 131 million, per data from Investing.com.
The next move hinges on execution. If loan growth falters or credit costs climb, the stock could face sharp swings. Plus, discussions on consumer-lending rates might not lead to concrete steps.
Markets reopen Monday, Feb. 2, giving traders their initial read. Then, Friday brings the next big event: the U.S. January employment report, set for 8:30 a.m. ET. The Bureau of Labor Statistics has it scheduled for Feb. 6.
