SoFi Technologies (SOFI) Tops Q2 EPS by 2c, Offers Guidance

SoFi Technologies (NASDAQ: SOFI) reported Q2 EPS of ($0.12), $0.02 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $356.1 million versus the consensus estimate of $340.87 million.

GUIDANCE:

SoFi Technologies sees FY2022 revenue of $1.508-1.51 billion, versus the consensus of $1.48 billion.

• Second quarter 2022 adjusted net revenue of $356 million exceeded quarterly guidance of $330 million to $340 million by 8% at the low end and 5% at the high end. Adjusted EBITDA of $20 million for the quarter exceeded quarterly guidance of $5 million to $15 million by 35% at the high end.
• Management expects a continuation of strong growth in the second half of the year, with expected adjusted net revenue of $830 million to $835 million, up 49% to 50% year-over-year, and adjusted EBITDA of $75 million to $80 million. Management projects that a more significant portion of the second half revenue and EBITDA results will be generated during the fourth quarter.
• Management now expects full-year 2022 adjusted net revenue of $1.508-1.513 billion (up from $1.505-1.510 billion previously) and full-year adjusted EBITDA of $104-109 million (up from $100-105 million previously). Management will further address second half and full-year 2022 guidance on the quarterly earnings conference call.

For earnings history and earnings-related data on SoFi Technologies (SOFI) click here.

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