SoFi Technologies announced record second-quarter revenue of $1.2 billion, driven by 40% revenue growth and strong profitability metrics including a 30% EBITDA margin and robust net income margin. The company also raised its full-year revenue guidance, reflecting confidence in continued member growth, product adoption, and cross-selling success. However, SoFi maintained its earnings guidance unchanged, citing the need to continue investing in growth and uncertainty from anticipated interest rate increases.
SoFi CEO Anthony Noto emphasized the company’s long-term profitability outlook while explaining the cautious approach to near-term earnings. He spoke with Bloomberg Tech host Ed Ludlow.
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