SoFi quarterly revenue jumps 44% to $1.4 billion, lifts 2026 and 2027 forecasts

Key Facts

SoFi reported record third-quarter results on Tuesday, October 27, with adjusted revenue rising 44% year over year to $1.4 billion, above analysts’ estimate of $1.25 billion. The company said net income under U.S. accounting standards was $241 million, compared with $139 million in the same period a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization also reached $470 million, up 70% and topping estimates of $427 million. SoFi had scheduled the results for about 7 a.m. Eastern time, before U.S. trading began. The figures came with an increase to its revenue outlook, boosting the results’ appeal to investors; Reuters reported that the stock rose 9% in premarket trading.

The results reflected an expanding customer base and greater use of the company’s services, with membership up 35% year over year to 17.1 million at the end of the third quarter. SoFi added a record 1.2 million members during the quarter, while the number of products used by customers rose 44% to 26.7 million. Chief Executive Anthony Noto said the results were "exceptional in any environment, but even more impressive given the trajectory of 2026." The company tied its strategy to growing its membership and encouraging members to use more products, supporting revenue per product. These metrics put record revenue growth in the context of expanding activity, alongside higher net income than a year earlier.

SoFi raised its 2026 adjusted revenue forecast to about $5.04 billion, representing annual growth of about 40%, versus analyst consensus of $4.88 billion. It also forecast adjusted earnings of $0.61 per share, compared with an estimate of $0.59. For 2027, the company gave preliminary guidance for adjusted revenue of $6.4 billion and adjusted earnings of $0.90 per share. Both figures exceed analyst estimates of $6.14 billion and $0.82 per share, respectively. The company said it continued to expect total membership to grow at least 30% annually in 2027, while Reuters estimated revenue growth of about 27% that year.

In indicators of industrial demand, U.S. durable-goods orders rose 1.8%, or $6.3 billion, in September to $345.4 billion, according to the Census Bureau. This followed a modest 0.1% increase in August, making September’s pace stronger than the previous month’s. Transportation equipment was the biggest driver of the increase, with orders rising 4.6%, or $5.2 billion, to $119.8 billion. This breakdown places some of the orders growth in the transportation sector, rather than attributing the overall increase to an even move across goods categories. The data coincided with a higher reading of consumer confidence in October, adding another sign of improvement in some measures of activity and economic conditions.

The Conference Board’s consumer confidence index rose 7.5 points to 91.7 in October, from 84.2 in September. The present situation index climbed 8.6 points to 120.4, while the expectations index gained 6.9 points to 72.6. The organization said the improvement in confidence was mainly tied to better consumer perceptions of current and expected business conditions. The two subindexes recovered by different amounts, with a larger increase in the present situation reading than in the expectations index. The latest reading follows the index’s decline to its previous September level, and corrects the draft that attributed the 91.7 figure to September or compared it with an estimate not substantiated in the statement.

Attention now turns to the Federal Open Market Committee meeting taking place on October 27 and 28. The committee statement is scheduled for October 28 at 2 p.m., followed by a news conference at 2:30 p.m. An Associated Press report said the Fed was expected to leave interest rates unchanged at the end of the meeting, noting that the prevailing range was near 3.9% when it was published. The committee had not yet announced its decision at that time, making the statement and news conference the next milestones for investors. In the market, EL7 data showed the Nasdaq closed at 26,447.404 points on October 27, compared with 26,169.38 points in the previous session; these are closing figures, not the intraday reading in the first draft.