Shares of SoFi Technologies (NASDAQ:SOFI) rose 2.6% on Tuesday after the digital finance company delivered stronger-than-expected third-quarter results, fueled by record revenue and rapid member expansion.
The company reported adjusted earnings of $0.11 per share, beating the consensus forecast of $0.08. Revenue surged to a record $961.6 million, a 38% year-over-year increase and well ahead of analyst expectations of $887.24 million.
SoFi added 905,000 new members during the quarter, bringing total membership to 12.6 million, a 35% jump from the prior year. The company also added 1.4 million new products, reaching 18.6 million total — up 36% year over year.
“SoFi delivered an exceptional third quarter, fueled by the strength of our innovation and the power of our one-stop shop strategy,” said Anthony Noto, CEO of SoFi. “Our ability to consistently deliver durable growth, strong returns, and exceptional credit performance proves that our strategy is battle-tested and built to outperform.”
Fee-based revenue climbed 50% to a record $408.7 million, powered by the company’s Loan Platform Business, which originated $3.4 billion in loans for third parties and generated $167.9 million in revenue.
Total loan originations also reached a record $9.9 billion, up 57% from the previous year. Personal loan originations hit a new all-time high of $7.5 billion, while student loan originations grew 58% to $1.5 billion. Home lending also set a new record at nearly $945 million in originations.
SoFi raised its full-year 2025 forecast, now projecting adjusted net revenue of approximately $3.54 billion, up from the earlier $3.375 billion guidance. It also lifted its adjusted EPS guidance to $0.37 from $0.31.
Net interest income increased 36% year over year to $585.1 million, supported by a 29% increase in average interest-earning assets and a 76-basis-point decline in cost of funds.