SoFi lifts 2026 revenue forecast as member growth, new loans hit records
SoFi logo in this illustration taken November 27, 2025. REUTERS/Dado Ruvic/Illustration
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
July 29 : Fintech SoFi raised its 2026 revenue growth forecast above Wall Street expectations on Wednesday after posting a market-beating second quarter, driven by record member growth and loan originations.
Despite an uncertain macroeconomic environment, elevated interest rates and high costs of living, credit quality has been stable thanks to resilient borrowers, allowing consumer lenders to continue growing their loan books and interest income.
Fintech firms such as SoFi have emerged as credible challengers to traditional banking heavyweights. A wider range of product offerings and the use of digital-first platforms have helped fintechs attract and retain customers.
SoFi said second-quarter total loan originations hit a record $14.8 billion and member growth surged 35 per cent to a record 15.8 million.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
It now expects full-year revenue in the range of $4.75 billion to $4.85 billion, above analysts’ expectations of $4.7 billion, according to estimates compiled by LSEG.
“We’re seeing our members remain resilient in the current climate. Spending remains strong, demand remains strong, and credit performance continues to meet or exceed our expectations,” CEO Anthony Noto told Reuters.
He added that SoFi’s primary focus remains organic growth, but the company will continue to evaluate acquisitions and act when the opportunity “clearly makes sense.”
SoFi’s adjusted revenue surged 40 per cent to a record $1.2 billion in the quarter ended June 30, beating estimates of $1.12 billion.
The company, which evolved from a student loan refinancing startup into a broad financial services platform, said its net interest income grew 52 per cent year-over-year to $788.2 million.
“We can generate durable net interest income by holding loans on our balance sheet, and we can also grow capital-light, fee-based businesses. Both are working, and that diversification gives me a lot of confidence,” Noto said.
On a per-share basis, adjusted quarterly profit came in at 12 cents, up 50 per cent from a year earlier, and beat expectations of 11 cents.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
