SoFi Stock Gets Its Q1 Verdict: Record Revenue, Bigger Loans, One Weak Spot
SoFi Technologies reported first-quarter adjusted net revenue up 41% to $1.087 billion, beating estimates, with net income more than doubling to $166.7 million. Lending originations jumped 68% to $12.18 billion, while deposits rose to $40.2 billion. Technology Platform revenue dropped 27% after a major client exit. SoFi began minting SoFiUSD, a dollar-backed stablecoin, and expanded digital asset efforts.