SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose Thursday after the digital finance company posted stronger quarterly revenue and record lending activity.
On Wednesday, the company reported first-quarter adjusted earnings of 12 cents per share, matching estimates, while revenue reached $1.08 billion, topping the $1.05 billion Street view.
SoFi generated record loan originations of $12.2 billion during the quarter, driven by personal, student and home loans.
Members increased 35% from a year earlier to 14.7 million. Total products climbed 39% to 22.2 million.
CEO Anthony Noto said SoFi delivered its 18th straight Rule of 40 quarter. He cited 41% revenue growth and 31% adjusted EBITDA margins.
Business Expansion
SoFi highlighted investments in crypto, stablecoin settlement, business banking and its premium SoFi Plus membership.
The company said SoFiUSD could support faster payments across fiat and digital assets …
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