$SOFI Soars on Q4 Earnings Report

SoFi shares are up 20% after hours after the company reported Q4 earnings. 💸 SoFi beat EPS and revenue consensus estimates and raised FY22 guidance. Here are the numbers:

Adj. revenue: $279.9 million, +54% YoY (vs. $279.3 million estimated)
Adj. earnings per share: 
-$0.15 (vs. -$0.17/share estimated)
Forward FY2022 outlook:  Estimating $1.57 billion, +55% YoY

SoFi reported excellent numbers in its new members added as well, with 3.5 million new SoFi members, +87% from the beginning of the year. The company exceeded its target new members by 500,000 and even added 960,000 new products (+51% from Q3.) SoFi’s CEO, Anthony Noto, commented on the company’s road to success throughout 2021:

First, we continued to drive strong growth through great execution across our three diverse businesses, as we adapted to capitalize on changing macro conditions. Second, the success of our unique Financial Services Productivity Loop 1 (FSPL) strategy accelerated as we scaled our business in 2021 — allowing us to exceed our original 2021 member growth target by 40% and still hit our adjusted EBITDA target. And third, we took a giant step forward in 2021 in achieving our goal of becoming a household brand name by investing in and growing our brand awareness via our SoFi Stadium affiliation, the success of our integrated multi-media campaigns and the virality of the influencers with whom we partnered.

SoFi closed the day -2.18%, but is up 19.02% after hours. Follow the conversation on Stocktwits’ SoFi stream!

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